JCY shares climb as Thai floods impact competitors
Publish date: Thu, 17 Nov 2011, 02:42 PM
KUALA LUMPUR (Nov 17): Shares of JCY rose in active trade on Thursday as the hard disk drive maker stands to benefit from the shortage as its competitors are impacted by the severe Thai floods.
At 3.29pm, JCY was up 4.5 sen to 73 sen. There were 14.8 million shares done at prices ranging from 66 sen to 73 sen.
Reuters reported that hard drive production will remain very low for the next six months and store prices for PCs could rise as soon as the Thanksgiving holiday in late November.
It also said HP, which reports earnings on Nov. 21, has said it expects to secure the hard drives it needs but there are signs that the shortage may become painful in the coming months.
In late October, The Edge FinancialDaily said that component makers, which supply mainly to Seagate TECHNOLOGY [] plc, could well take pole position in the hard-disk drive (HDD) industry after rival Western Digital Corp was beaten out by the flooding in Thailand. The companies are JCY and Dufu.
At 3.29pm, JCY was up 4.5 sen to 73 sen. There were 14.8 million shares done at prices ranging from 66 sen to 73 sen.
Reuters reported that hard drive production will remain very low for the next six months and store prices for PCs could rise as soon as the Thanksgiving holiday in late November.
It also said HP, which reports earnings on Nov. 21, has said it expects to secure the hard drives it needs but there are signs that the shortage may become painful in the coming months.
In late October, The Edge FinancialDaily said that component makers, which supply mainly to Seagate TECHNOLOGY [] plc, could well take pole position in the hard-disk drive (HDD) industry after rival Western Digital Corp was beaten out by the flooding in Thailand. The companies are JCY and Dufu.
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
mkchng
the stock has great potential at least for this session ended(year-end2011)and the following seesion(1st.quarter of 2012)....hopefully it will reflects on it's earning and also stock-price in the market!
2011-11-20 14:42