With The Increase Of Dram Costs, The Trend Of Gross Profit Improvement In Mediatek Will Slow Down.

The IC design leader will be held today (31), but recently it has been frequently targeted by foreign investors. The latest report issued by the foreign capital of the sub department, due to the deterioration of the 3 quarter revenue and gross interest rate, the target price was down to 220 yuan, and the evaluation was reduced to the sale at the same time, causing market concern.

Observation of recent foreign investment, large institutions including Deutsche, Morgan Stanley, HSBC, Nomura, and other foreign securities firms are also under the list price, no foreign capital has called the "5" target price.

At the beginning of this year, the foreign investment circle held a positive view on the popular science popularization. The main reason is that the smartphone market in mainland China has a turn and the Helio P60 is expected to pull the demand, and the profit and Maori have a turning point. But recently mainland consumers are cautious about the demand for mobile phones. Semiconductor and chip makers are looking down on the seasonal effect of the third quarter. Qualcomm is still the biggest rival. The latest report of the foreign capital of the sub department pointed out that the four largest mobile phone brands in China are still high in viscosity of high pass chips, and the estimated revenue of the 3 quarter of the United States is only medium - digit growth, and the gross interest rate has fallen.

The foreign capital of the sub department believes that the smart wearer has been actively cut in in recent years. It is estimated that the shipments will increase by 10%~15% only, and the overall product shipments are also down 10% in the whole year, and the profit forecast of next year is 25%, 9%, and the target price is cut to 220 yuan.

Morgan Stanley and Deutsche also said that in the second half of the year, the mobile phone Department of the United States Department of the United States has turned conservative. It is expected to hold steady performance last year, lower than expected growth expected, of which the high Qualcomm threat is the biggest challenge.

On the other hand, the mainland flagship model performance is not as expected, the second half of the fear of seasonal adjustments, with the cost of DRAM higher, the development trend of the Maori will slow, so the target price.

In the short run, the first half of the smartphone sales situation is lower than expected, plus the interference from the Sino US trade war, which is the main reason for the poor mobile power in the third quarter of the mobile phone market, and the mobile chip supply chain is mostly conservative at the current 3 quarter operation.