Craig-Hallum analyst Tony Stoss notes STMicroelectronics (STM) reported results and guidance above estimates driven by continued strength in auto coupled with their ramping ToF business. Further, the analyst looks for a strong second half of 2017 as the company announced a newly won program to ramp with substantial revenues, which he believes is likely Apple (AAPL). Stoss continues to like STMicroelectronics heading into the iPhone 8 and thinks there is a possibility Apple could include 2 ToF sensors. He reiterates a Buy rating on STMicroelectronics shares.
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