《大行報告》高盛料明年大多數內地科技行業需求疲弱 看好瑞聲(02018.HK)、比亞迪電子(00285.HK)、華虹(01347.HK)、中軟國際(00354.HK)及金蝶(00268.HK)等
高盛發表研究報告指,預計2023年大部分科技子行業需求疲軟,包括智能手機需求於今年觸底,明年首季消化庫存;個人電腦市場繼續下滑;5G BTS電信資本支出周期已見頂;半導體資本支出周期已經見頂;由於CSP供應商的資本支出增長放緩,服務器增長將放緩;半導體的庫存消化將持續到2023年第二季度;個人電腦和消費電子產品的需求放緩。另一方面,該行預計軟件公司將在2023年錄得更強勁的增長,新服務器CPU的更高含量將推動ABF基板市場。
在智能手機或下游領域,該行看好市場份額增加並多元化進入新終端市場的股票,予比亞迪電子(00285.HK)、聯創電子(002036.SZ)、瑞聲科技(02018.HK)、立訊精密(002475.SZ)、傳音控股(688036.SH)「買入」評級。在5G方面,予長飛光纖(06869.HK)「買入」評級;半導體行業則看好較成熟企業和那些業務偏向汽車或工業終端市場的公司,相關港股籲買入華虹(01347.HK)。
該行指,2023年全球智能手機出貨量增長持平至低個位數;儘管如此,在市場份額增加、更好的產品組合和更好的市場增長的推動下,瑞聲目標其相機業務收入可實現雙位數增長。至於比亞迪電子,該行預計2023 年智能手機市場不會出現強勁反彈,目標是Android智能手機業務(外殼和組裝)的收入增長持平;考慮到其他業務領域的增長更為強勁,電話業務收入貢獻可能會下降至20-25%。
軟件方面,該行予中軟國際(00354.HK)、金蝶國際(00268.HK)、用友軟件(600588.SH)、恆生電子(600570.SH)、金山辦公(688111.SH)等。
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.