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KN - Knowles: Fade The Bullish Q4 2020 Pre-Announcement
Knowles Corporation
Knowles beats across the top line and bottom line on its FQ4 '20 preannounced numbers.
However, much of the upside was likely due to Apple's iPhone 12 delay and Samsung's earlier Galaxy S21 launch.
With ongoing production shift delays as well, Knowles remains levered to COVID-19 impacts and could suffer from a smartphone-led demand normalization in the upcoming quarters.
Shares trade at a premium to peer Synaptics despite similar near-term prospects, keeping me on hold.