Reported 8 months ago
On June 23, 2024, at 4:10 pm, Haitong International Securities downgraded United Microelectronics Corporation (UMC) from 'Neutral' to lower the estimated fair price to 580 NT dollars. UMC had been performing well due to expectations in the iPhone supply chain, collaborations for edge AI opportunities, and increased capital inflows. However, concerns over reaching a peak and potential competition from LX Semi in South Korea and risks in the large-size display driver IC industry led to the downgrade. Additionally, slowdowns in the panel industry affecting LDDIC market conditions raised uncertainties for UMC's future prospects.
Source: YAHOO