MIDF MAINTAINS ‘POSITIVE’ RECOMMENDATION ON TECH INDUSTRY
KUALA LUMPUR, Oct 5 (Bernama) -- MIDF Amanah Investment Bank Bhd has maintained its “positive” recommendation on the technology sector due to its sturdy mid-long term outlook and the expanding acceptance and integration of smart technologies.
In a research note today, it said that despite the industry still under pressure from rate hikes and other macroeconomic challenges, demand for 5G, artificial intelligence (AI), and electric vehicle (EV)-related products and services remain strong.
“These are the essential enablers to ignite the digital economy globally. The semiconductor industry is significantly reliant on developing technologies for computational power,” said the investment bank.
It also said the global semiconductor industry sales ticked up +0.1 per cent year-on-year (y-o-y) to US$47.4 billion (US$1=RM4.63) in August 2022 from US$47.3 billion in the previous year.
Regionally, month-to-month sales grew in Europe (+1.5 per cent) but fell in Japan (-1.4 per cent), the Americas (-2.8 per cent), Asia-Pacific/All Other (-4.3 per cent) and China (-4.9per cent), it said.
Meanwhile, yearly sales in Europe increased by 14.9 per cent, the Americas (+11.5 per cent) and Japan (+7.8 per cent), while sales in Asia-Pacific/All Other fell (-2.9 per cent) and China (-10.0 per cent).
-- BERNAMA
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