Hi-P: DBS to review forecasts post 1Q11 results on 4th May, keeps at Buy and TP$1.43. Key client RIM, which contribute 30-35% of Hi-P’s sales cut forecast for quarter ending 28 May due to slower-than-expected demand for smartphones…
RIM expects sales to be below the prev forecast range from -6.0%qoq to +0.7%. Mgmt for Hi-P has not seen significant impact from Japan’s quake and existing supply is to fulfill orders up to May/June with tablet demand to be brisk.
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