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Maintain ‘overweight’ on semicon sector on strong Aug sales: CGS-CIMB

Broker's Calls

Maintain ‘overweight’ on semicon sector on strong Aug sales: CGS-CIMB

Lim Hui Jie Published on Wed, Oct 07, 2020 / 11:38 AM GMT+8

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CGS-CIMB has maintained an “overweight” rating on the semiconductor sector after a strong showing in sales in August.

On Oct 5, the Semiconductor Industry Association (SIA) announced that global sales of semiconductors hit US$36.2 billion ($49.2 billion) in Aug 2020, 4.9% higher than the Aug 2019 figure of US$34.5 billion, and 3.6% higher than the July 2020 revenue of US$35 billion.