This Apple Supplier Should Benefit From New Markets — And An Improved Perception

Investors are missing an opportunity in a company well-positioned for growth

Highlights:

• With Apple accounting for more than 80% of sales (and headlines suggesting weak iPhone demand) the bear case for this small cap is obvious.

• But the Apple relationship is solid, and the idea that the iPhone has reached “the beginning of the end” seems overwrought.

• Meanwhile, a strategy of diversification beyond Apple is now bearing fruit, and has a clear path toward further success.

• At barely 12x earnings, the combination of bottom-line growth and a higher valuation could lead to triple-digit upside over a multi-year period.