Posted by unclejoe > 2018-11-27 16:36 | Report Abuse

YiSTock, good job! Samsung and all China Tier 1 Handphone makers are gearing up for their 5G flagship handphone release by either Q1 or Q2 2019.

Posted by pputeh > 2018-11-27 20:27 | Report Abuse

Thanks YiStock for a detailed write up

Posted by iamwen > 2018-11-27 23:08 | Report Abuse

Went to AGM today. From what the director said. The RF tester increase around 100++ units from 2017 to 2018 from 700+ unit to near 900 unit this year.
Each tester cost from 1-1.6 million usd. Broadcom is increasing the tester to prepare for future expansion. I think this align with your thought. And hope mi and penta will benefit from such trend which is align of what you write about penta. And also Inari is switching IR scanner to VCSEL to support osram for the company that acquired by osram recently.

Posted by iamwen > 2018-11-27 23:14 | Report Abuse

And Inari is well diversified to health sensor such as biometric sensor, heart beat sensor at smart watch which is one type of opto electronic as well. Not to forget about mini led. However, this two sector won’t contribute significantly.

Posted by unclejoe > 2018-11-28 06:30 | Report Abuse

iamwen, thanks a lot! How about the current capacity utilisation rate for both assembly and test?

Posted by YiStock > 2018-11-28 08:16 | Report Abuse

iamwen, thanks for the great input

Posted by 7210 > 2018-11-28 15:44 | Report Abuse

YiStock, do you think it is still worth to invest in INARI?

INARI had issued bonus shares in 2016, 2017, and april 2018, this had diluted the EPS, ad resulted in high PE.

Posted by YiStock > 2018-11-28 16:23 | Report Abuse

Inari should have 1 more round of bonus issue 1:2 by end of the year due to the removal of Par value regime change. You can search back 2016 report for the detail.

The share price is adjusted post bonus issue. PE should stay the same.

Posted by 7210 > 2018-11-28 16:59 | Report Abuse

Yistock, many countries now block huawei 5G including NZ. what is your thought?

https://klse.i3investor.com/blogs/kianweiaritcles/184256.jsp

Posted by YiStock > 2018-11-28 17:05 | Report Abuse

i think they are talking about communication system, not huawei smartphone.

Posted by unclejoe > 2018-11-28 17:16 | Report Abuse

Inari Q report Briefing, by CIMB and Omighty Capital:

the key highlights

Positive earnings growth for FY 2019
Osram products to contribute 30% in FY 2018 increased to 50% in FY 2020
Flat utilisation for 1Q 2019 and same expectation for 2Q 2019
New products include mini LED, facial recognition chip and health sensor
New products to contribute in 2H 2019

Posted by YiStock > 2018-11-29 08:35 | Report Abuse

Found the reasoning finally. Also witnessed again how the short seller operate and newsmedia manupulate human's fear and greed

The Evil:
https://www.wsj.com/articles/not-so-big-in-japan-apple-cuts-price-of-i...

The Clue:
https://asia.nikkei.com/Business/Companies/Apple-to-alter-iPhone-sales...
https://www.cultofmac.com/561675/apple-japan-antitrust-rules-iphone/
https://www.japantimes.co.jp/news/2018/07/11/business/corporate-busine...

My thought:
It is a long practice for apple subsidizing japan carrier to capture the biggest market share there.
29/11/2018 08:33

Posted by YiStock > 2018-11-29 08:39 | Report Abuse

And let listen to what the insider tell:
https://www.macrumors.com/2018/11/28/iphone-xr-best-selling-iphone/

Posted by YiStock > 2018-11-29 10:51 | Report Abuse

"蘋果產品行銷部副總裁Greg Joswiak在最新專訪中堅稱，iXR上市後就是最暢銷機種。
路透社、CNET報導，蘋果產品行銷部副總裁Greg Joswiak 28日在接受訪問時表示，iPhone XR目前是蘋果「最主流的商品、也是最受歡迎的iPhone」(most mainstream product and our most popular iPhone)。他說，自從iXR上市之後，就一直是最暢銷的iPhone機種。
這跟市場先前傳出的消息不太相符。

https://www.moneydj.com/KMDJ/News/NewsViewer.aspx?a=2834584b-914c-4c14-8586-d92949585f25&c=MB010000

Posted by unclejoe > 2018-11-29 10:52 | Report Abuse

A lot of fake news in WSJ on Apple Iphone lately. I had terminated the subscription. It is waste of money, I rather spend that on BBC or The Economist.

Posted by iamwen > 2018-11-29 12:04 | Report Abuse

@unclejoe based on my memory, utilization rate at malaysia factory is around 70% and philippines is 60%, China factory is around 70% if i didn't remember wrongly

Posted by unclejoe > 2018-11-29 12:26 | Report Abuse

iamwen, Thanks a lot! 70% utilisation rate is good for the enlarge capacity. This is inline with UOB's OCT report (see below:The loading volume for Inari’s RF segment is good in October, with utilisation rate of the testing capacity at 65-70% and the assembly capacity at >90%). Current quarter loading is higher than Q1'19.

Posted by iamwen > 2018-12-27 15:49 | Report Abuse

http://www.inariberhad.com/img/ir/8th%20AGM%20minutes%20(Key%20Matters%20Discussed).pdf

Posted by iamwen > 2018-12-27 15:49 | Report Abuse

Inari now upload the matter discussed in AGM to their website, and i think it is very good for investor which not able to attend the AGM