How STMicroelectronics N.V. Stock Gained 12.5% in September
Shares of STMicroelectronics (NYSE: STM) rose 12.5% in September 2017, according to data from S&P Global Market Intelligence. The surge rested entirely on Apple 's (NASDAQ: AAPL) launch of the iPhone X, which is widely expected to contain a large number of STMicro chips.
According to Tony Stoss, an analyst with Wall Street firm Craig-Hallum, the iPhone X's facial recognition features are likely to depend on STMicro's hardware solutions, pushing the company's chip content up from roughly $4 per handset in earlier models to $7 per phone this time. Since analysts expect Apple's preorders for the iPhone X to exceed 50 million units, that adds up to a potential $150 million revenue boost for the chip supplier.
Image source: Apple.
Source: Fool.com
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