STMicro’s reliance on Apple is a risk factor, UBS analyst warns


Semiconductor firms that supply Apple with chips for iPhones, iPads and Macs might sound like a safe bet for investors but they also come with an element of risk, according to one analyst who follows the sector.

UBS’s Francois-Xavier Bouvignies told CNBC Wednesday that his firm has a “neutral” rating on French-Italian chip firm STMicroelectronics because of the company’s exposure to smartphones and Apple in particular.

Work with smartphone firms account for 30% of STMicroelectronics total revenues, and the company has 25% exposure to Apple, Bouvignies said.

“For us, it’s kind of a risk to have such exposure to one customer, which is always difficult to predict,” Bouvignies said.

Apple and…


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