Himax: Fundamentals Remain 'Very Weak' Into 2020

Himax Technologies, Inc. (NASDAQ: HIMX) shares traded higher Wednesday morning after speculation suggesting the company is benefiting from Apple Inc. (NASDAQ: AAPL)'s stereo AR headset, but a company spokesperson denied the rumor.

“We (Himax) are not working with Apple on any of their AR projects/products. We’d like to set the record straight and not mislead people, especially when we believe shares up lately are for NO REASON," the spokesperson said. 

"Our business fundamentals remains very weak in 2H19 and into 2020."

Apple unveiled its latest crop of iPhones on Tuesday; rolled out a new watch, iPad tablet, iPhone and Apple Watch; and gave new details about its gaming and streaming TV services. 

Much of the attention was on the iPhone 11, the basic version of which will retail for $699. The company touted several new camera features on the phone and two higher-end “pro” versions.

Himax shares were down 7.14% at $2.47 at the time of publication. The stock has a 52-week high of $6.66 and a 52-week low of $1.70.

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