Acer: skills. Yet another miss. No change to the short view
Acer numbers this morning, despite management insisting for the last umpteenth quarters they are improving, show the start reality. Simply, the street had drunk the ‘cool aid’ and dialled in too much...
View ArticleAcer: skills. Yet another miss. No change to the short view
Acer numbers this morning, despite management insisting for the last umpteenth quarters they are improving, show the start reality. Simply, the street had drunk the ‘cool aid’ and dialled in too much...
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Asustek: they did it again – thanks Google. Serves to highlight how poor Acer is
Asustek posted 43% YoY net profit growth for Q3 this morning, and at NT$6.71 Billion was a substantial 24% above street estimates. This of the back of 9% sales growth, and company expects notebook...
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Acer: skills. Remains a basket case, sell
Acer October sales, -29.9% Year On Year, in what should traditionally be a strong month paint a picture. Now the street expectation of Q4 sales to rebound +11% Year on Year and post full year sales...
View ArticleShocking PC data. Which OEMs should you own? None of them
Worldwide PC shipments fell -13.9% YoY in Q1 according to IDC data released last night. While the secular decline of the PC is hardly new news, the magnitude of the contraction has caught investors and...
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Europe: from basket case to recovery
After years of negative headlines about Europe, it’s interesting to see evidence of a recovery starting to emerge or at least things “getting less bad”. While we are a long way from there being a...
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Where in Asia is most exposed to EU recovery?
Although it is early days in any EU recovery (PMIs have only just tipped over 50; a point highlighted by Hutch Whampoa’s ports division showing only 6% revenue growth and flat EBITDA trends) we have...
View ArticleAsia tech hardware roadtrip
We have just returned from our 78th trip to Asia on a fact finding mission as it relates to the technology sector into Q3 earnings. At the margin, data points appear weaker (vs our last trip in June)...
View ArticleQ3 PC Data remains poor: continue to avoid the OEMs
Q3 PC data from both Gartner and IDC has been released this morning. Gartner’s research reports that Q3 marks the sixth consecutive quarter of declining worldwide PC shipments, and this quarter is also...
View ArticleConfirmation of our Asia tech hardware roadtrip
Please refer to our “best ideas” note on Tuesday for full details of our tech hardware roadtrip through Asia and view that PC demand would show up in Q3 numbers for Acer, Asustek and Lenovo. On...
View ArticleEuropean recovery
The Markit survey of purchasing managers — a closely watched gauge of business activity — climbed to 54.0 in April from 53.1 in March. That’s the highest reading since May, 2011. Importantly the...
View ArticleDraghi helping China
Unanimous decision, broad range of measures that are beyond expectations, with the door open to do more. Rate cut less than most expected, SMP non-sterilisation is in-line, ABS programme being planned...
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