Building cards into the handsets of Japan's mobile-phone users, who are ever eager to experiment with new tricks, seems agood way to get them to buy more on credit.
Keeping his Buy rating, Yeung says the stock should get off to agood start this year, driven by a strong CS, with some seasonal stall mid-year, then strengthening again later in the year as ultrabook sales pick up and the debut of the Silvermont mobile SOC parts become available.
This means that a company with poor profit performance can getabuy recommendation if the market has beaten down its price even more than it deserves, while a very good performer can warrant a sell if its valuation is excessively exuberant.