Recently, many foreign investors are optimistic about MediaTek market outlook, Japanese foreign investors also issued a latest report pointing out that Chinese mobile phone brands OPPO, vivo, Xiaomi are more active in order to grab orders for Huawei And Qualcomm 's 5G low-end S4350 chip mass production time may be delayed until the first quarter of 2021, which is expected to heat up MediaTek's orders. Will look at 700 yuan.
Japanese foreign investors said that MediaTek’s stock price decline has reached a point of satisfaction, and there are two bullish bulls in the market outlook that are expected to push up the stock price; the smartphone market share gap caused by Huawei’s ban has made MediaTek’s 5G customers include OPPO, vivo, and millet The demand for chips has increased greatly; in addition, there seems to be doubts in the design of the Qualcomm 5G low-end S4350 chip, and the design may need to be re-tape out. It is estimated that the mass production time will be delayed by 1 to 2 months, that is, next year It will officially enter mass production in the first quarter, which will also improve the competitiveness of MediaTek's new low-end 5G chips. Therefore, it is expected that MediaTek's 5G chips will not be under pressure from price competition in the fourth quarter, and the 5G performance in the fourth quarter is expected to be stable. In the third quarter, this year's operation reached a new high.
Nomura said that the market has recently heard that MediaTek chips are under price pressure, but the current chip supply is extremely short of demand. Not only is there a large demand for 5G chips, but the supply of power management chips (PMIC) is tight and the production quota of 5G chips is also reduced. In this case, customers are unlikely to bargain heavily on chip factories.
In addition, according to Nomura's survey, the mass production of Qualcomm's new low-end 5G chips is also limited by the production capacity of Samsung's wafer . Once mass production will bring competitive pressure, it will not be as big as the market worries. People are afraid that 5G chips will quickly fall into the Red Sea, and even drop half of the price. I am afraid that they are too worried.
Japanese foreign investors said that although MediaTek’s medium and long-term upside space is limited, the short-term evaluation of and has been fully revised, and the short-term price pressure of MediaTek chips is expected to be relieved. With the support of fundamentals, MediaTek is expected to start a rebound, giving MediaTek "Neutral" investment rating, but the target price is 700 yuan.
Source: The content is compiled from "MoneyDJ, Economic Daily"
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