Imagination Technologies Share Discussion Threads

[borromini1] 07/4/2017 09:27

Mister MD - excellent point. By that logic if Apple make an offer for Imagination all of Imagination's previous Apple related value immediately pours back into the stock. Even better beyond that additional future gains are concreted in place.

[mister md] 07/4/2017 09:07

www.benzinga.com/analyst-ratings/analyst-color/17/04/9266189/what-does-apple-dropping-imagination-mean-for-other-appl

"With nearly $250 billion in cash, Apple could have easily afforded to buy Imagination"

"... some analysts, such as Jefferies’ Ken Rumph, are speculating that Apple may simply be taking a controversial approach to an Imagination buyout. By cutting Imagination loose, all of Imagination’s Apple-related value immediately poured out of the stock. Rumpf says Apple may be intentionally “using the warning of cessation to depress its prey’s valuation (and emphasize its dependence on Apple) before pouncing.”"

[borromini1] 06/4/2017 23:41

freddie ferret - Apple's money is two edged, probably to their advantage they have fewer restrictions on who they can appoint to defend the company. Presumably using IMG's patent lawyers will be off limits. The other side is that the first thing the lawyers check is what assets does the defendant have to go at, Apple's pile will be eye wateringly attractive.
A second point is that Apple has been successfully protected from litigation since the manufacture of the first iPhone by IMG's comprehensive and evolving low power GPU patent portfolio but this protection will evaporate. It seems unlikely that Apple currently own any GPU related patents of note. They might go on a patent buying spree which may or may not protect them. They may need to apply for new patents which get contested and fail.
The third thing is IMG will not be the only company rushing to legal action against Apple, every GPU patent holder's eyes will light up as they consider joining the queue.
The fourth thing is that the High Court of England and Wales has recently awarded a patent case against an unsuccessful defendant that encompasses their entire world wide sales of the offending products or face a UK sales ban. So, one case can catch all. That sounds like an economical starting point for IMG, if one is needed.

[tsmith2] 06/4/2017 22:31

Good intra day reversal lets see what tomorrow brings. Think co is susceptible to a low ball bid

[bloomer2] 06/4/2017 20:39

Thanks for all your AGM write ups Pete.

[hacklesrising] 06/4/2017 19:15

After 20 years sold out for double what I paid. Still in shock. Not a great return!!
See you on the IQE board
Pete

[freddie ferret] 06/4/2017 17:18

While the share price will do its own thing, the important question is the underlying situation.
Either IMG patents hold or they do not.

In court Apple have more money.

Personally I think this was a softening up move in preparation for a bid, however we will have to wait and see.

[mister md] 06/4/2017 15:46

this is institutional buying, not some small p.i's "averaging down". Anyhow, lets see what happens, certainly some positive upward momentum at the moment.

[mister md] 06/4/2017 15:42

Wouldnt want to be holding a short after that 65% drop here ...

[mallorca 9] 06/4/2017 15:42

Certainly not.
I may have been premature this morning with my 90p today call as £1 will offer support buying for a while, however fundamentals always prevail.
I'll fall back on what I said yesterday .. once £1 is clearly breached then this will fall sharply.
The end will be the breakup and sell off of the Company which hopefully will salvage something for those who have been foolish enough to remain as shareholders.
You have an opportunity now to get out with something, but many will foolishly be averaging down !

[onjohn] 06/4/2017 15:39

Avesco went at a 100pc premium

Would be nice to have that here

[onjohn] 06/4/2017 15:39

The company has received a bid approach - I'm waiting for that news

[onjohn] 06/4/2017 15:38

Back to 190p?

[mister md] 06/4/2017 15:27

masses of AT buys going through - very interesting indeed

[mister md] 06/4/2017 15:11

mallorca9 - closed that short yet ?

[sheep_herder] 06/4/2017 15:06

nearlythere - I think things will improve for the non management staff - they're circulating their CVs as we speak.

[sheep_herder] 06/4/2017 15:00

Orkney, sorry, I didn't understand your turn of phrase there. So you don't think they'll generate new sales/licenses then but what new business do you think will replace that 50% then? Do you mean completely new business lines?

Just as an aside, anyone else confused by the use of "new business" to mean anything other than licensing/royalties?

[nearlythere] 06/4/2017 14:19

While the speculation of bids and other scenarios is entertaining, in the real world the situation somewhat more serious.Apple GPu license and royalties paid for everything. In reality it was the main ( if not the only ) source of profits.

Img management attempts to sell the GPu to others have failed over the past 3 years with img seeing licenses collapse ( late, delayed, not signed in time ).
Does anyone really expect the same management team to win 250 million high value socs per annum. Also img have just lost the most important customer in the world for showcasing its GPUs.

While I still have a holding, I have been selling as the licensing continue to disappoint over the past 3 years ( thankfully)
It must be difficult time for the non management staff, I do hope things improve, but I am unable give a reason why it will.
All IMO

Interesting times

[orkney] 06/4/2017 13:34

Sheep Herder. I never said that img 'would' generate new sales/licences, etc.. I stated that they may generate new business, etc... Take a bit more time when reading, it helps one to digest the story.

[mister md] 06/4/2017 13:34

PS has mallorca changed his mind yet about his "Should see this fall below 90p today" prediction ?

[mister md] 06/4/2017 13:27

If IMG were taken over by another party, e.g Samsung or Softbank there would be the odd situation where Apple would temporarily be paying royalties to one of its main competitors ?
Whilst there are legal implications of Apple launching a takeover approach after that announcement (and 64% crash in share price), could it work the other way round, ie IMG admits defeat and seeks to be taken over by Apple (or offer itself up for sale to any other party too in order to get best price). Management have to do something to restore some shareholder value surely ?

[0penallhours] 06/4/2017 13:22

Has anyone considered an outcome where it's found that Apple's new products are using IMG IP? Rather than receiving a one-off payment, could IMG demand higher royalties for as long as the products are sold?

[sheep_herder] 06/4/2017 13:06

Orkney, what has that got to do with your assertion that IMG will be able to replace the lost Apple business? Aside from providing you with some sand to stick your head in and avoid all the facts.

If you can come up with any reasons why IMG can suddenly reverse their lack of licenses, let alone design wins, then you should probably apply for the job as the current and previous management couldn't do it.

[rob_evans] 06/4/2017 13:01

It is a complete waste of time trying to talk sense to these clowns.

I tried for years - first with the news that MediaTek were switching to Mali. I was called an idiot, a deramper, and worse.

Then I tried warning them that Intel were going to fail in mobile. Same result as before.

Finally I highlighted the danger from Apple building up its own GPU expertise, and even poaching IMG's senior staff. Same result.

Some people just don't have the sense to listen - even (especially?) after they have been proved wrong time after time.

Quite how anyone thinks there is a positive future for a company that has failed to deliver any return to its shareholders, has a long record of backing losers (Pure, Hellosoft, etc), is loss making, is in debt, and has just lost its most important customer is beyond belief.

A fool and his money are soon parted.

[orkney] 06/4/2017 12:49

Sheep herder. I don't think it's funny that 1700 img employees may lose their jobs; obviously you do!!