Market Gets Nervous on LCD Panels; AUO, LPL, GLW Drop
Shares of glassmaker Corning (GLW) and LCD panel producers AU Optronics (AUO) and LG Display (LPL) are all down sharply today amid a new wave of market jitters on the prospects for the flat-panel display market.
Several recent Street research reports note that conditions in the LCD panel sector have been difficult for much of the third quarter, raising questions about the companies’ ability to hit current Street estimates.
Brian White, an analyst with Collins Stewart, noted in a roundup piece on the electronics supply chain today that he visited last week with three leading Taiwan-based LCD panel makers, and came away with a “reinforced” cautious stance on AU Optronics, which he rates Hold.
