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Fly News Breaks for April 6, 2017
FNSR, LITE, IIVI
Apr 6, 2017 | 08:46 EDT
Benchmark analyst Mark Miller attributes recent weakness in shares of II-VI (IIVI) to reports on delays related to the introduction of VCSEL-based sensors for 3D imaging in Apple's (AAPL) iPhone 8 and concerns about VCSEL yield issues. Some investors think VCSELs represent a significant revenue opportunity in 2017 for II-VI, but Miller points out that II-VI management recently emphasized that its U.S. VCSEL ramp will primarily come in 2018. He actually views the reports as good news for II-VI, and potentially bad news for assumed first movers Lumentum (LITE) and Finisar (FNSR), he tells investors. Miller keeps a Buy rating on II-VI and sees the weakness as a buying opportunity.
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