Hi-P: US-based RIM fell 15% after sharply reducing its forecasts, likely to cause some selling pressure on Hi-P. In prev reports DBS has est RIM to contribute 30-35% of co’s rev and Apple at approx 15%...
While co may be negatively impacted by RIM’s new forecasts, on the flipside, co counts Apple as one of its clients and is involved in supplying parts for the iPhone and iPad. Co is still viewed as one of the counters exposed to the smartphones (est 50% of rev) and tablet PC (25%) mkt. Hi-P trades at 8.8x current P/E but has fell from peak of $1.24 to $1.01 and is on a steep decline.
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