Towards Financial Freedom
StarHub - The New iPhone Cometh (Sell, TP SGD3.06)
2Q could be all she wrote as a new iPhone looms. StarHub will report 2Q12 results on 8 Aug and earnings should rise on seasonal strength. The stock's continued rise is a good chance to take profit, in our view, as the launch of a new iPhone in 3Q12 can be expected to depress margins in 2H12. Also, yields have been compressed to historical lows and we do not expect upside in dividends given potentially heightened capital commitments next year for BPL and 4G spectrum cost. The important factors to look out for are EBITDA margin, Android handset mix, pay TV content cost and management tone on dividends. Finally, do keep an eye on the Samsung/Apple legal tiff as it is likely to impact future phone prices and telco subsidies. SELL.
Source: Maybank Kim Eng
Source: Maybank Kim Eng
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
