Report
EUR 56.04 For Business Accounts Only

Sustainability in 2H16 remains debatable

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We are worried about further downside risk to HMI’s 2016 sales guidance. TSMC just revised down its 2016 semi industry growth outlook, which could signal more cautious capex spending across foundries and IDMs for 2H16. HMI’s 1Q16 EPS of NT$3.6, slightly missed on higher opex, while sales growth guidance for 2Q16 (up 50-80% QoQ) and 2016 (up double digits YoY) are largely in line.

Underlying
Hermes Microvision Inc.

Provider
Yuanta
Yuanta

​Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.

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