Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
02018 AAC TECH
RTNominal down23.750 -1.750 (-6.863%)
Research Report

16/11/2020 17:45

{I-bank focus}Macquarie cuts AAC Tech (02018) to HK$38

[ET Net News Agency, 16 November 2020] Macquarie lowered its target price for AAC
Technologies (02018) to HK$38 from HK$42.7 and maintained its "underperform" rating.
The research house said AAC's 3Q revenue and gross margin declined 10%/6ppts, below
consensus, due to the delayed iPhone 12 launch, an ASP decline for legacy products, and
declining Huawei metal casing orders.
With iPhone 12 ramping up in 4Q, Macquarie expects the acoustics and haptic segments to
see sequential revenue and gross margin improvement. Metal casings are still a drag on
earnings. Huawei's volume significantly shrunk; Macquarie expects capacity to be
underutilised in the next two quarters.
Macquarie lowered its 2020/21/22 net income 14%/11%/9% due to lower metal casing revenue
and margin for 2020/21 and slower Android acoustic gross margin improvement. (KL)

Back to Research Report

Remark: Real time quote last updated: 19/04/2024 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.