新2信用网出租（www.hg108.vip）_Tech sector to remain buoyant on high demand

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,MIDF Research: “The companies that registered earnings within expectations were Inari Amertron Unisem (M) Sdn Bhd and MyEG Services Bhd."

KUALA LUMPUR: MIDF Research is upbeat about the local technology sector, as demand for electric vehicles (EV), artificial intelligence (AI) and 5G-related services continue to remain buoyant.

The research house noted in a report yesterday that emerging technologies, such as AI, automotive electronics, as well as augmented and virtual reality, depend heavily on the semiconductor industry to provide the computing power necessary.

“Therefore, we would like to reiterate our positive stance on this sector as it is still set for explosive growth due to its adoption and integration, eclipsing all other sectors, including the financial and industrial ones.”

With regards to its take on local technology companies, MIDF Research said it had upgraded its call on D&O Green Technologies Bhd from “neutral” to “buy” with a lower target price of RM4.48.

“We opine that the company has a strategic positioning within the automotive industry.”

Unisem factory production plant

Additionally, the research house said the long-term outlook for the automotive light-emitting diode (LED) industry remains solid.

“This is mostly due to higher adoption of LEDs in future automotive design.”

MIDF Research added that it continues to favour Inari Amertron Bhd as one of the prime beneficiaries of 5G technologies and that this was through its radio frequency (RF) business segments.

“The RF business segments, with 12% year-on-year growth, continue to be the major contributor at 61% of revenue. This comes on the back of steady volume loading.

“We remain optimistic about the company due to the resilience of its RF earnings in tandem with increasing chip complexity in 5G phones, as well as the company’s constant efforts to enhance and diversify its revenue streams.”

MIDF Research noted that the first quarter financial results of companies under its coverage were generally mixed and a bit skewed towards the negative side.

“The companies that registered earnings within expectations were Inari Amertron Unisem (M) Sdn Bhd and MyEG Services Bhd.

“Meanwhile, two came in below expectations, namely D&O Green Technologies and Globetronics Technology Bhd”

The research house said the lacklustre results were attributed to the challenging business environment for technology companies amid surging inflation, rate hikes by the US Federal Reserve, global supply chains issues and changes in spending patterns due to the Covid-19 pandemic, as well as geopolitical instability in Russia and Ukraine.