UBS reveals its most and least preferred Asian tech stocks

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

UBS reveals its most and least preferred ****** tech stocks

Asia’s tech stocks have taken a hit from the recent tech sell-off, but UBS sees promise in the sector, naming its most — and least — preferred stocks in it. “Bottom up, we do not believe the Tech

This is the hidden content, please

• Sign In
• or
• Sign Up

has dramatically changed,” the investment bank’s analysts led by Nicolas Gaudois wrote in an Aug. 6 research note. “The 2Q24 results season showed some delay in the recovery for auto / industrial semis & PCs [personal computers] more in line. The conventional server market has started to modestly improve, Android volumes appear in-line, while [there are] some modest upside to iPhone build estimate.” The analysts also sees potential upside for artificial intelligence-powered technologies such as Nvidia ‘s GB200 superchip into 2025. Their comments follow the 17% average decline in Asia-Pacific tech stocks in the four weeks up till the date of the note, underperforming the MSCI APAC Equity index by 13%, the analysts noted. Year-to-date, the sector was also down 13% on average relative to the broader index, as at Aug. 6, the analysts added. UBS’ analysts expects AI to remain the “overarching driver” in the tech sector. Among their “most preferred” buy-rated stocks is South Korean giant Samsung Electronics , which has a “key call buy.” Other stocks in its “most preferred” list that stand out include ********* semiconductor manufacturer Renesas Electronics and Shenzhen-listed electronics components manufacturer Maxscend Microelectronics, both of which have an upside potential of over 100% based on UBS’ price target. Here are some names on the investment bank’s lists of most and least preferred tech stocks in Asia-Pacific: — CNBC’s Michael Bloom contributed to this report.

This is the hidden content, please

• Sign In
• or
• Sign Up

#UBS #reveals #preferred #****** #tech #stocks

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up