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Monday, 07/11/2016 3:55:23 PM

Monday, July 11, 2016 3:55:23 PM

Post# of 151692
Intel Modems Could Be In More Than Half Of iPhone 7s: Cowen
By Teresa Rivas



Cowen & Co.’s Timothy Arcuri and his team reiterated a Market Perform rating on Intel (INTC) Monday, but raised his earnings estimates and boosted his target price by $4 to $36, writing that the Apple (AAPL) iPhone 7 win for the firm might be more fruitful than expected.

He writes that Intel’s design win for the 7360 modem in the new iPhone was always a positive, but that new checks show that Intel products will now be in in more than half of iPhone 7 units, which would translate into about 100 million to 110 million units for Intel. That’s double his previous expectation of just 25% share for Intel.
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