The Group recorded revenue and net profit from continuing operations of RM354.047 million and RM9.898 million respectively for the current quarter ended 31 March 2023, representing a reduction of 16.6% and 80.7% respectively as compared to the revenue and net profit of RM424.445 million and RM51.180 million achieved in the same quarter a year ago. The decrease in revenue and net profit was primarily attributable to lower sales volume in line with softer market conditions.
Nvidia shares surged 24.4 per cent a day after the company posted stronger-than-expected revenue guidance, and reported beats on the top and bottom lines in the recent quarter. Exploding demand for Nvidia chips used in artificial intelligence underpinned the quarterly beat.
Several analysts covering Nvidia hiked their price targets on the stock following the results. Nvidia’s surge brought the chipmaker within striking distance of a $1 trillion market capitalisation.
Other semiconductor stocks and artificial intelligence names followed Nvidia’s lead. Advanced Micro Devices and Taiwan Semiconductor soared 11.1 per cent and 12 per cent, respectively. The VanEck Semiconductor ETF popped 8.6 per cent to close at its highest level of the year; the fund hit a new 52-week high earlier in the session. Alphabet and Microsoft added 2.1 per cent and 3.9 per cent, respectively.
Do not pity this idiiot, keep losing money is the punishment. Lost in so many stocks still want to attack others. Shameless liar will never win in the stock market. Continue to lose until bankrupt is a good move. I wish to see the final episode.
Do not pity this idiiot, keep losing money is the punishment. Lost in so many stocks still want to attack others. Shameless liar will never win in the stock market. Continue to lose until bankrupt is a good move. Lost money attacked sifu, real shameless.
After a strong GDP report for Q2 there were a lot of expectations for some of the momentum in the US economy to fade. Despite Fed rate hikes, the economy has expanded at an annual rate of at least 2% over the last four quarters after the technical recession at the beginning of 2022. Personal consumption has also been strong since the end of the pandemic, growing by at least 1% in every quarter since the beginning of the pandemic. Surely these numbers couldn’t be maintained after more than 500 basis points of hiking? Early July economic data suggests that it is possible.
Bright signs are emerging for semiconductor stocks, which had been sluggish during the July-September period. The inventory adjustment that has continued since last year had been lingering longer than market participants had expected. However, there has been a rebound in the memory market recently, leading to increasing views that the recovery trend of the semiconductor industry will become more apparent in the future.
Prices of core products such as DRAM (memory that requires retention operations for occasional writing and reading) and NAND flash memory used for smartphone data storage showed signs of bottoming out in the first half of this year. However, they had not fully recovered, weighing on semiconductor stocks. Yet, signs of a turnaround have started to appear in the past few weeks.
Global semiconductor sales have been on a recovery trend, and it is highly likely that they will turn positive year-on-year for the first time since July of last year. Looking at past cases, once sales turn positive, the increasing trend often continues, leading to significant rises in semiconductor stocks.
The earnings for the July-September period announced by South Korea's Samsung Electronics this week also indicated a smaller margin of profit decline compared to the April-June period. This further supports the view that the semiconductor industry has passed its worst phase.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....