【摩根大通】Top+Stories0509.pdfVIP

Asia Pacific Equity Research 9 May 2011 Top Stories Link for full .pdf version Technology hardware, Asia Pacific Sunil Garg Competition from content aggregators in Tablet market (852) 2800-8518 sunil.garg@ (Gokul Hariharan) Send me your feedback! If content aggregators and owners enter the Tablet hardware market, then the price points for these products are likely to be much lower. As a result, the market AM perspective opportunity in cheap Tablets could become smaller for traditional hardware vendors Adrian Mowat, Chief Equity Strategist like PC brands. We suggest investors to play this opportunity through relevant ODMs UW Cyclicals Formosa Chemicals and Fibre Corp (N), Taiwan We downgrade to N from OW and cut our PT to NT$ 100 (Samuel Lee, CFA) We think with cotton futures falling 28% from its peak and with the corrections in crude prices, there is a downside risk to our previous positive view on Aromatics. FCFC earnings may have peaked in the 1Q hence we suggest taking profit. We remove FCFC from our Analyst Focus List and continue to prefer Nan Ya Plastics. China Power, China Power shortage will likely benefit equipme