0855 GMT - Samsung Electro-Mechanics is set to gain from personal-computer makers and data-server clients launching new models with artificial-intelligence features, HSBC analysts Will Cho and Hankil Chang say in a research note. They expect the South Korean multilayer-ceramic-capacitor supplier to see stronger business growth, given that AI PCs need 20% more MLCCs than conventional notebooks, while the amount of MLCCs used by AI data servers is more than double that of normal servers. They expect the company's AI-related sales and operating profit to grow 63% and 72% a year, respectively, until 2026. HSBC raises its target price for the stock by 5.3% to KRW200,000 and keeps its buy rating. Shares ended 0.8% lower at KRW149,700.(kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
June 11, 2024 04:55 ET (08:55 GMT)
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