---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000877929.md"
description: "$AEM SGD(AWX.SG)AEM: AI Growth Is Real, But the Price Has Run AheadThe headline is validated. AEM’s 1H26 net profit surged 876% to S$30.8 million, while revenue rose 29.9% to S$247.2 million. Management raised FY2026 revenue guidance to S$630–680 million and introduced EPS guidance of S$0.245–0.275, supported by AI/HPC production ramps. (DBS Singapore⁠)Fundamentally, AEM is compelling: higher-margin Test Cell Solutions lifted 1H gross margin to 33.1%, while its balance sheet remained conservatively geared, with only 0.03x debt/equity and net cash. (DBS Singapore⁠)But valuation is the concern. At S$9.36, the stock trades around 34–38x FY2026 guided EPS and roughly 5.8x NAV, leaving limited margin for execution disappointment. Technically, momentum has cooled sharply: shares fell from S$11.54 after results and now sit below the 50-day moving average of S$9.91, although still above the 200-day average of S$9.16. (Investing.com⁠)View: HOLD, not BUY. Existing investors can retain exposure, but fresh money should wait for S$9.15–9.30 support. Those seeking better value could rotate partially into UMS Integration, where 1H26 earnings rose 66% and valuation remains more reasonable relative to growth. (DBS Singapore⁠)Not financial advice."
datetime: "2026-08-30T23:56:43.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000877929.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000877929.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000877929.md)
author: "[FaithAnchor](https://longbridge.com/en/profiles/24833348.md)"
generator: "portal-rs"
---

# $AEM SGD(AWX.SG)AEM: AI Growth Is Real, But the Pr…


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## Comments (2)

- **Fantastic · 2026-08-31T03:36:11.000Z**: first memory final test handler ships 4q26 ahead of the 2027 ramp. that is what the 34x is paying for, not this half.
- **Zanessa · 2026-08-31T02:09:10.000Z**: waiting for a real pullback before adding here, chasing it at these levels feels risky tbh 👀


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**