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4-Traders Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Wistron Corporation    3231   TW0003231007

WISTRON CORPORATION (3231)
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Apple launches $300 million green energy fund in China

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07/12/2018 | 09:15pm EDT
FILE PHOTO: The Apple logo is seen on a computer screen in the illustration photo taken in Bordeaux

SHANGHAI (Reuters) - Apple Inc will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country.

China's government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country's waterways and polluted soil.

The investment from the iPhone maker, which will be made along with 10 suppliers including Pegatron Corp and Wistron Corp over a four-year period, also comes as the United States and China lock horns over trade.

Apple's chief executive Tim Cook earlier this year called for calm heads in Washington and Beijing as the world's two largest economies have veered towards a trade war and exchanged tit-for-tat tariffs on billions of dollars of goods.

The U.S. firm makes most of its products in China, which are shipped around the world, including to the United States. China is also one of Apple's most important end markets, although it has faced a rising challenge from local smartphone rivals.

Apple has been making a broader push in renewable power. Earlier this year it said that its global facilities were now fully powered by clean energy.

(Reporting by Adam Jourdan; editing by Richard Pullin)

Stocks mentioned in the article
ChangeLast1st jan.
APPLE -0.23% 191.44 Delayed Quote.13.12%
PEGATRON CORPORATION --End-of-day quote.
WISTRON CORPORATION --End-of-day quote.
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Financials (TWD)
Sales 2018 961 B
EBIT 2018 10 438 M
Net income 2018 6 002 M
Debt 2018 28 137 M
Yield 2018 6,32%
P/E ratio 2018 10,22
P/E ratio 2019 8,65
EV / Sales 2018 0,10x
EV / Sales 2019 0,09x
Capitalization 65 319 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 28,8  TWD
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Po Tuan Huang General Manager & Director
Hsien Ming Lin Chairman & Chief Scientific Officer
Chin Tsai Lin Chief Financial Officer, Deputy GM & Spokesman
Chen Jung Shih Director
Hong Po Hsieh Director
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