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<Research>G Sachs Elevates TPs for SMIC/ HUA HONG SEMI to $117, Benefiting from AI Demand Growth
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HUA HONG SEMI (01347.HK) advanced 5% to close at $91.9 at midday, with a turnover of $1.302 billion, while SMIC (00981.HK) shed 1.2% to close at $89.8. Goldman Sachs released a research report expressing a positive outlook on the continuous development of China's domestic AI ecosystem, which will benefit the long-term business opportunities of SMIC and HUA HONG SEMI in the semiconductor sector. DeepSeek recently released a new experimental model, DeepSeek V3.2-Exp, which improves training and reasoning efficiency. Subsequently, domestic ASIC and GPU manufacturers such as CAMBRICON (688256.SH), Huawei and HYGON INFORMATION (688041.SH) announced that they have completed adaptations to the new model. As the domestic AI solutions from models to semiconductors continued to evolve, the broker expected that SMIC and HUA HONG SEMI, as leading Chinese foundries, will benefit in the long term. Therefore, Goldman Sachs elevated its target price for SMIC from $95 to$117, and lifted its target price for HUA HONG SEMI to $117, with ratings kept at Buy for both stocks. Although the main output of SMIC and HUA HONG SEMI are focused on mature process nodes rather than advanced GPU/ASIC, the broker estimated both companies to benefit from AI-related demand growth in the medium to long term, including PMICs for data centers and Bluetooth/WiFi, CIS, RF, MCU for AI devices. AASTOCKS Financial News Website: www.aastocks.com |
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