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Affin IB Research maintains Overweight on Tech sector as Inari, Unisem shine

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Affin IB Research maintains Overweight on Tech sector as Inari, Unisem shine Empty Affin IB Research maintains Overweight on Tech sector as Inari, Unisem shine

Post by Cals Thu 05 Jun 2014, 20:14

Affin IB Research maintains Overweight on Tech sector as Inari, Unisem shine
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 05 June 2014 08:51

KUALA LUMPUR (June 5): Affin IB Research has maintained its Overweight rating on the Technology sector and said that overall, semiconductor companies under its coverage posted healthy 1QCY14 results despite a shorter quarter due to the festive season.

In a note Thursday, the research house said the stronger year-on-year growth was largely underpinned by Inari and Unisem.

It said that on a quarter-on-quarter basis, MPI and Uchi Technology’s results were slightly weaker.

However, this was mitigated by stronger earnings growth from Globetronics, Inari and Unisem, said Affin IB Research.  

“Overall, the 1QCY14 results were generally within our expectations. Moving forward, we think earnings momentum for our semiconductor companies will continue to improve in the coming quarters.

“We remain optimistic about the sector given the improved earnings visibility as well as solid earnings prospects for our semiconductor companies. We maintain our Overweight sector rating,” it said.
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