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Fly News Breaks for September 13, 2017
Sep 13, 2017 | 07:35 EDT
Oppenheimer analyst Andrew Uerkwitz says that as widely predicted, Apple (AAPL) indeed abandons the fingerprint sensor on the drastically redesigned OLED iPhone, the iPhone X. The analyst believes the redesign may cause an "existential crisis" for fingerprint-based authentication, with the iPhone X reaffirming his negative outlook for Synaptics' (SYNA) fingerprint sensor business in general. Uerkwitz expects Synaptics' exposure to the smartphone market and challenged competitive positions to pose revenue headwinds in the next 24 months. He reiterates an Underperform rating and $35 price target on Synaptics' shares.
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