Semiconductor Manufacturing International Corp. (SMIC) shares surged 5.76% on Wednesday, propelled by analysts' projections of strong revenue growth for the chipmaker in 2024.
According to a research note from Bocom International analysts Dawei Wang and Carrie Tong, SMIC's 2024 revenue could rise 26% driven by robust demand for its 12-inch wafers. The analysts cited the recovery in chip demand for consumer electronics as a key factor supporting SMIC's business in the second half of the year.
While acknowledging relative weakness in the auto and manufacturing sectors, the analysts expect SMIC to "enter the harvest season" after significant investments. They estimate SMIC's gross margins to improve from 16.8% in 2024 to 22.3% by 2026, as the company reaps the benefits of its capacity expansion efforts.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。