Dialog Semiconductor is targeting new growth opportunities from home healthcare ...
FRANKFURT - Dialog Semiconductor is targeting new growth opportunities from home healthcare to gaming consoles following a $600 million deal to cut its exposure to Apple, CEO Jalal Bagherli told Reuters on Wednesday.
Dialog said the business that will remain after it transfers a team of programmers and patents to Apple should show strong growth in 2019, weighted towards the second half. The connected health devices would monitor blood pressure, check glucose levels or administer insulin doses for diabetic patients without them having to visit a hospital, he said in an interview.
“We find this transformation of Dialog’s business compelling, and think its current valuation overly discounts the risk associated with the company’s evolving business model,” Barclays analyst Andrew Gardiner said in a note.Dialog earlier forecast a single-digit percentage decline in revenue this year, reflecting weaker iPhone sales. This forecast topped a consensus view among analysts for a 9 percent fall.
Some industry players have forecast a quick, V-shaped rebound in demand although persistent weakness in measures of industrial activity such as purchasing managers indexes and inventory builds suggest a recovery may be slow. Asked about how Dialog would use the cash windfall from the Apple deal, Bagherli said he would spend some on acquisitions.
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