The semiconductor industry is on track for a recovery in 2024, according to TA Securities Research.
Meanwhile, TA Securities also continues to favour Inari Amertron Bhd for its growth prospects, driven by the 5G adoption, traction with customer diversification efforts, as well as above-industry average profitability. “However, we deduce an insignificant impact to Inari with our back-of-the-envelope estimates indicating a 1%-1.7% hit to its revenue/earnings for every 10% decline in sales suffered by its major US end-customer in China,” TA Securities said.
“That said, we do not discount a protracted recovery path given rising concerns on China’s slowing economy and lingering headwinds from the uncertain interest rate outlook,” it said.
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