AUO - AU Optronics - Don't Let The Yield Fool You
Investment Thesis
AU Optronics Corp. (AUO) is a developer and manufacturer of thin-film liquid transistor LCDs. The company showed up in my stock screen last year. At the time, the business appeared very cheap- it traded at less than 4x EV/EBIT.
Manufacturing and Living Quarters - AU Optronics Xiamen
Despite it being so cheap, I passed on an investment in AUO, as the company operates in a capital-intensive industry and future trends are difficult to project for an outsider like myself. In capital-intensive industries like AUO, it is important not to make the