AU Optronics (AUO) Shares Climb Higher on Apple iPhone Order Report

Shares of AU Optronics Corp. (AUO) gained the most since Jan. 4, to $10.52, after the Economic Daily News reported that the company’s subsidiary Cando Corp. may win a contract to manufacture parts for a new version of the Apple (AAPL) iPhone.

Two days ago, J.P. Morgan (JPM) analyst J.J. Park raised his rating on AU Optronics to ‘Overweight’ from ‘Neutral’, noting that price declines in AUO shares should be limited from current levels and that investors should accumulate the stock prior to seasonal Q4 strength.

Shares of AU Optronics Corp., a co. that engages in the production and sale of thin film transistor liquid crystal displays (TFT-LCDs) and other flat panel displays, fell 2.06% to $10.45 in recent action.

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About Ron Haruni 1064 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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