" "Commerzbank Reiterates "€58.00" Price Target for Dialog Semiconductor (DLG)

Ebony Scott
December 5, 2017

A report late last week said that Apple is working on a brand new processor of its own - a power management chip that should improve battery life on future iPhone models.

The statement added that Dialog didn't expect to lose its Apple power chip business in 2018.

Dialog semiconductor logo is pictured at a company building in Germering near Munich, Germany August 15, 2016.

CEO Jalal Bagherli said the company's position is that there is no material change to its current ongoing relations with iPhone maker Apple. The company is believed to derive the majority of its income from Apple.

However, it was acknowledged by the company for just the first time that Apple holds the capability and resources internally to design PMIC and could possibly do so within the next couple of years.

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"Apple is obviously not helping Dialog to win this argument with investors".

Investors have become wary of businesses that rely too much on Apple, which has eliminated several of the small suppliers during the past.

Dialog Semiconductor is finding out what happens when you put most of your eggs (or apples, perhaps) in one basket. Imagination was sold off following that in two different deals.

Dialog usually doesn't name business partners when talking to investors, referring to Apple as its "largest customer" or "main business".

In mid-morning European trade, shares in the Anglo-German firm were more than 18 percent lower. Morgan Stanley set a €55.00 ($65.48) price objective on Dialog Semiconductor and gave the stock a "buy" rating in a report on Thursday, November 16th. The brokerage said the reaction could prove overblown and that Apple may still decide to stick with Dialog rather than developing its own power chips. Dialog stock has lost more than 40% of its value since April when an analyst warned that Apple was working on its own battery-saving chip.

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