Kayaker, Re:Bear Stearns and SYNA -thanks for the info.
To sum things up-
*“Amid speculation”*/ *”belief” *, of *"possible loss"* of the Apple contract, yet while *” continue (ing) to view Synaptics' user interface technology favorably" *- Bear Stearns cuts SYNA target from $49 to $25 -$28 and reduced EPS estimates as follows-
.................was..........is
2005.........$1.13........$1.12
2006...........1.50..........1.10
2007...........1.95..........1.00
snips>>>>
Bear Stearns downgraded Synaptics (nasdaq: SYNA - news - people ) to "peer perform" from "outperform" amid speculation......
." Bear Stearns lowered Synaptics' 2006 and 2007 earnings-per-share estimates to $1.10 and $1 from $1.50 and $1.95, respectively. The 2005 earnings estimate was cut by a penny to $1.12 per share.
"More importantly, we believe that Apple will use an Apple/Cypress solution in its fifth-gen iPod rather than Synaptics', as well as in the subsequent generations of iPods.
despite the loss of Apple, we continue to view Synaptics' user interface technology favorably and believe that Synaptics remains a direct play on the secular trend toward mobility and proliferation of digital-lifestyle products owing to its dominant share in notebooks (over 55%); strong list of OEMs [original equipment manufacturers] in music players, even without Apple--a total of seven OEMs, including Creative and Samsung; and expected design wins in cell phones." Bear Stearns lowered Synaptics' 2006 and 2007 earnings-per-share estimates to $1.10 and $1 from $1.50 and $1.95, respectively. The 2005 earnings estimate was cut by a penny to $1.12 per share. Regarding the possible loss of the Apple contract, Bear Stearns noted, |
