DBS Raises SMIC TP to HKD96 After 2Q Results Far Exceed Expectations
AASTOCKS News·- DBS reported that SMIC's 2Q revenue reached USD 3.01 billion, up 36% year-on-year, while gross margin significantly beat market expectations at 25.3%. - Management projected 3Q revenue growth of 2% to 4% quarter-on-quarter and guided gross margin to be between 26% and 28%. - Following these results, DBS raised SMIC's earnings forecasts for 2026 to 2028 by 13.4% to 16.5% and lifted its target price to HKD 96.Corporate insiders are sending warning signals about the stock market
MarketWatch·- Corporate insiders have reached their most bearish sentiment level in over 20 years, with net buying dropping to 14.8 % in July. - Research shows that heavy insider selling during a declining market serves as an ominous signal of lacking confidence in a quick recovery. - Only three defensive sectors including consumer staples, materials, and utilities show net insider buying, while large-cap net buying fell to 3.2 %.HSBC: AI Boom Remains Intact Despite Semiconductor Volatility
FiNews·- HSBC Private Bank stated that the recent sell-off in Asian semiconductor stocks reflects a valuation reassessment rather than the end of the artificial intelligence investment cycle. - The bank projects global AI capital expenditure to surge from under USD 400 billion in 2025 to over USD 1 trillion by 2028, with Asia serving as the epicentre of data centre expansion. - Supported by resilient economic growth and ongoing AI leadership, HSBC maintains a mild overweight on US equities while favoring high-quality investment-grade corporate bonds.