AMS Osram - comment

AMS shares and bonds have both traded off yesterday and today on the back of press reports from TrendForce, a market research firm, who claim Apple has delayed the launch of its Apple Watch Ultra with a MicroLED display citing manufacturing issues as the reason for this delay. This will have a direct impact on AMS's long-term success of its new Malaysian plant. However, it should be noted, this plant isn’t even built yet, so this has a very limited impact on AMS Osram’s performance over the coming two years when refinancing needs to be considered.