Shares in Apple supplier AMS jumped by around 20% on Monday after the Switzerland-based company reported strong fourth-quarter revenues and raised its guidance.
The provider of high performance sensor solutions reported a 252% jump in fourth-quarter revenues, citing strong growth in consumer related sales in the 3D sensing and advanced light sensing segments.
iPhone X boost
Much of the strong upswing in AMS revenues coincides with the launch of Apple´s new iPhone X.
Referring to “increases in revenue pipeline visibility”, AMS said it now expected revenue growth of 60% for 2016-2019, combined with an adjusted EBIT margin target of 30% from 2019 onwards.