Sales estimates for the next iPhone are creeping higher. Apple stock has been hitting new highs. Analog Devices (ADI) shares had been roaring ahead with the group, but they lost a step, recently trading at $78.63, 6% below their March peak.
Morgan Stanley chip analyst Craig Hettenbach today urges investors that the recent weakness in the shares of Analog Devices (ADI) is “your second shot to buy into the ‘Dream Team,’ despite a variety of concerns, including its possible loss of business at Apple (AAPL). The stock has been week, he notes, since CFO David Zinsner announced his resignation March 6th to pursue a role with a venture firm. "To put this in further context,” writes Hettenbach, "ADI is down $6 since the deal closed a reaction that stands in stark contrast to the $15-$20 of value we think LLTC will add based on incremental EPS power of $1+.