AEM May Be Hurt By Apple’s Plan To Use Own Chips

April 4, 2018 1:20 pm

Apple’s plans to reportedly use its own chips in Mac computers is not good news for Singapore-listed semiconductor equipment firm AEM, CIMB says. A Bloomberg News article said Apple’s plan, which will replace processors from Intel, is still in early developmental stages. AEM is a key supplier to Intel, which accounts for about 80% of the local company’s sales. Pending more clarity, CIMB says its still keeping its add rating and S$8.19 target price on the stock. AEM is down 0.8% at S$6.08.