iPhone supplier AMS raises mid-term revenue target

FILE PHOTO: A customer tries on a new iPhone 7 Plus in Australia's flagship Apple store in Sydney, September 16, 2016 as the iPhone 7 range goes on sale for the first time. REUTERS/Jason Reed

Chipmaker AMS, which supplies components to Apple and Samsung Electronics among others, on July 24 raised its mid-term revenue growth target, thanks to increased customer forecasts and a higher revenue pipeline.

The company said in April it might raise mid-term revenue growth target as it expected significant ramp-ups in its consumer business in the second half of the year.