You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
郭明錤:幾乎所有Android品牌均面臨高庫存風險
天風國際分析師郭明錤表示,在小米(01810.HK)的零件庫存(約相當於2,000萬至3,000萬部手機)中,狀況最嚴重的是處理器,供應商為聯發科與高通(QCOM.US)。幾乎所有Android品牌均面臨因需求疲弱導致的高庫存風險,不僅是小米。以三星為例,該品牌的全球手機庫存(終端與零組件總和)預計要到6月才有機會降到合理水位。 郭明錤認為,對有議價力的Android零件供應商,因為在2020至2022年供應短缺時簽下的供貨合約,可以將庫存轉嫁到品牌與代理商/經銷商。然而,這樣做雖可讓庫存在短期內修正到合理水位,但品牌與代理商/經銷商的高庫存可能會導致未來數個季度對零件的需求疲弱。因為品牌或代理商/經銷商對零件的需求疲弱,故即便庫存降到合理水位的零件,至少在未來6至9個月普遍也會面臨出貨按年衰退的挑戰,可能不利股價表現。 此外,郭明錤指某些零件供應商因面臨產業結構改變(如新競爭對手進入導致市佔率下滑等),即使未來需求因經濟復甦而改善,仍面臨中長期增長放緩或衰退的挑戰。
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.
uSMART
Wealth Growth Made Easy
Open Account