Xiaomi's Gross Profit Margin Will Remain Resilient in 2024 -- Market Talk

Dow Jones05-30

0429 GMT - Xiaomi's gross profit margin may remain resilient in 2024, thanks to more premium smartphones and a better product mix, OCBC analysts write in a note. They see a stronger smartphone sales outlook in the following quarters after stronger-than-expected 1Q results. OCBC raises its earnings per share forecast by 3% and 10% for 2024 and 2025, respectively, and lifts the target price to HK$25.00 from HK$20.10. They believe Xiaomi's market share will continue to rise amid an improved global smartphone outlook. Xiaomi's Internet-of-Things sector will see more growth potential while its EV foray could drive earnings growth in the future. OCBC keeps a buy rating on the stock which is last at HK$17.62.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

May 30, 2024 00:29 ET (04:29 GMT)

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They see a stronger smartphone sales ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SGXZ58947870.SGD","symbol_name":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2439011668","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2439011668","pubTimestamp":1717043340,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0429 GMT - Xiaomi's gross profit margin may remain resilient in 2024, thanks to more premium smartphones and a better product mix, OCBC analysts write in a note. 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