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Lumentum pullback on WIN worries a buying opportunity, says MKM Partners.

MKM Partners analyst Michael Genovese said the guidance from WIN Semiconductor of Taiwan will likely make investors worry about an inventory build up in the 3D VCSEL supply chain, but he sees what is going on as positive inventory buffering, not a problematic build. With three new phones and an iPad with 3D being launched in the second half, Apple (AAPL) does not want to have bottlenecks late this year, contends Genovese, who recommends buying shares of Lumentum (LITE) on today's weakness. Other Optical names that have been weak following the guidance from WIN include Oclaro (OCLR) and Finisar (FNSR), The Fly notes.

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Publication:The Fly
Date:Jul 20, 2018
Words:103
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