野村:維持舜宇“中性”評級 給予小米、丘鈦科技“買入”評級
野村發表行業報吿指,舜宇光學(2382.HK)3月手機鏡頭及手機攝像模組出貨量略遜預期,考慮到手機芯片短缺的問題,不排除4月份手機鏡頭出貨量或會下跌,維持“中性”評級,目標價為193港元;至於丘鈦科技(1478.HK)4月份的攝像模組出貨量尚未見調整,故維持“買入”評級,目標價看19港元。
野村認為,包括三星、小米(1810.HK)、Oppo及Vivo在內的所有安卓智能手機客户都將第二季如鏡頭等非短缺零部件削減10%至30%,主因上游芯片與下游零部件供應不相符所影響。
該行又指,自華為於去年9月退出智能手機市場,以及分拆“榮耀”品牌,大部分智能手機商都積極預定芯片及零部件以迅速從華為及榮耀中搶得市場份額。然而,此舉尚未對智能手機商今年的實際出貨目標構成明顯影響,惟一旦芯片供應短缺加劇,或會令下半年最終需求開始放緩,智能手機商可能需要下調全年發貨目標。該行亦維持小米“買入”評級,目標價續看27港元。
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