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Semiconductor Globetronic top pick due to the tablet & smartphone market exposure
by Cals Mon 06 Jan 2014, 14:34
| Semiconductor Globetronic top pick due to the tablet & smartphone market exposure |
| Business & Markets 2013 |
| Written by Reuters |
| Monday, 06 January 2014 09:26 |
KUALA LUMPUR (Jan 6): MIDF Research has maintained its Positive rating on the semiconductor sector and said global semiconductor sales (GSS) continued to surpass previous records, coming in at USD27.2 billion during the month of November 2013.
In a report Monday, the research house said this was mainly led by bullish sales especially from the Americas region. Furthermore, sales from the European and Asia Pacific regions also showed optimism. Sales from Japan, however, was impacted by the devaluation of the Japanese Yen.
MIDF Research said it does see any major headwinds that will impact GSS growth moving forward.
It said while sales from the Japan region may continue to weaken further, this would be overshadowed by continued bullish sales from the other regions.
“In tandem, book-to-bill ratio also improved for the second consecutive months to 1.11x. This shows that equipment bookings activities have picked-up pace. We expect capex spending to remain intact in view of strong demand of electronic devices.
“On the back of bullish sales data coupled with rosy outlook, we reiterate our Positive stance on the sector. Globetronic (Buy, TP:RM4.19) is our top pick for the sector due to its exposure to the tablet and smartphone market” it said.
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