The shares of mobile phone camera maker Sunny Optical Technology Group Co Ltd (HK:2382) surged 4.76% to HK$72.65 on Tuesday morning, after HSBC Broking Services raised the firm’s credit rating from “hold” to “buy.”
HSBC also raised the targeted share price of Sunny Optical from HK$87 to HK$99 and predicted that CAGR of the smartphone camera in the next three years would be 18%, reports showed.
Sunny Optical’s shares are also impacted by U.S. tech giant Apple Inc (NASDAQ:AAPL). as the Chinese company is one of its major suppliers. Apple filed an appeal to overturn a sales ban in China of some of its iPhones due to a patent dispute, according to CNBC.
Qualcomm (NASDAQ:QCOM) Incorporated won the patent battle on Monday in a Chinese court to obtain two injunctions against Apple in selling seven models of the iPhone. The firm alleged that Apple infringed on Qualcomm’s patents.
Apple’s shares bounced back 0.66% in the closing time on the firm’s appeal decision, after a nearly 3% slide in its stocks over the legal battle with Qualcomm.
Best services products with foremost technical support which will make your Financial Trading easy. Contact us to know more! Click here for the next level >> Stock Option Market Tips Or ONE MISSED CALL ON @9644405056
No comments:
Post a Comment