Reported about 1 year ago
Novatek (stock code: 3006) experienced a surge in stock price with increased trading volume on June 20, 2024, breaking through the limit-up price of 105.5 yuan at one point but faced profit-taking selling pressure towards the end, closing up 9.26% at 105 yuan with a trading volume of 33,700 shares. Analysts believe that the global memory giants' active deployment of High Bandwidth Memory (HBM) has reduced the supply of DDR4, leading to a rise in niche memory prices starting in the second quarter, expecting Novatek's operations to turn from losses to profits in 2024 due to anticipated price hikes and increased shipments, attracting market capital in advance. Analysts estimate that Novatek's revenue for the year is expected to grow by over 20% with a gross profit margin rebounding to 10% in the first half and to 15%-20% in the second half, driven by the simultaneous increase in price and volume of memory-related products.
Source: YAHOO