Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00981 SMIC
RTNominal down16.640 -0.760 (-4.368%)
Others

08/04/2020 15:02

{I-bank focus}Semi stocks to rebound in 2Q; risk looms in 2H

[ET Net News Agency, 8 April 2020] Nomura noted that SMIC (00981) SMIC has just raised
its 1Q guidance to a sequential increase of 6% to 8% as compared to the original guidance
of an increase of 0% to 2%. The gross margin was guided to be 25% to 27% as compared to
the original guidance of 21% to 23%.
The research house believes the strength is mainly driven by its mature nodes. Demand
for mature nodes (above 28nm) was strong across 12" and 8". Nomura expects SMIC's
utilization rate to have remained strong in 2Q.
Nomura believes such an announcement from SMIC came as a big surprise to most investors
amid the mounting concerns on the outlook for tech demand amid the COVID-19 pandemic. It
maintained its "buy" call on SMIC, with a target price of HK$18.
Nomura expects that semi stocks to see a rebound in 2Q. It does think major downside
risk to semi numbers, if any, would be in 2H. However, Nomura said the 30% sell-off from
Jan peak to March trough should have also priced in a certain level of 2H 2020/2020
downside risks. (KL)

Remark: Real time quote last updated: 28/05/2020 17:58
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.