野村:小米(1810.HK)業務強勁及多元化 維持“買入”評級
野村發佈報告稱,小米(01810.HK)第三季度智能手機毛利率勝預期及物聯網(IoT)業務強勁,維持小米“買入”投資評級,及目標價11港元。
該行表示,小米(01810)市場業務仍然表現良好,但預計其智能手機第四季度在內地的出貨量仍具挑戰,預計2019財年的整體出貨量持平在2018財年的1.18億部水平,相信海外市場出貨量增長能抵消內地市場出貨量下跌。小米預計當2020財年進入5G週期後,智能手機的毛利率能維持在8%-9%水平。
另外,該行認為小米的電視出貨量會由第三季度的310萬部升至第四季度400萬部,全年能達1200-1300萬部。而在互聯網方面,認為其業務將更多元化,能減少依賴國內的手機廣告。

Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.