Asian technology stocks have been hammered by the recent tech sell-off, but UBS sees promise for the sector and has listed the most and least favored stocks in the sector. Investment bank analysts led by Nicolas Gaudois wrote in a research report on August 6: “From the bottom up, we do not believe that the technology outlook will change dramatically.” “The results of the second quarter of 2024 show that automotive/ The recovery in industrial semis and PCs has been delayed. The traditional server market has begun to improve modestly, Android sales appear to be in line with expectations, and there is some room for modest growth in iPhone build estimates. Nvidia analysts also see room for upside. Artificial intelligence-driven technologies such as the GB200 super chip have potential upside into 2025, analysts added, with the industry down an average of 13% year-to-date relative to the broader index as of August 6. Silver analysts expect artificial intelligence to remain the “primary driver” of the technology industry. One of their “most favored” Buy-rated stocks is South Korean giant Samsung Electronics, which has a “Key Buy” rating. Other stocks that stand out on its “top priority” list include Japanese semiconductor maker Renesas Electronics and Shenzhen-listed electronic components maker Mingsheng Microelectronics, both of which have upside potential of more than $100, based on UBS’s price target. %. Here are some of the names in the investment bank’s list of the most popular and least popular tech stocks in Asia Pacific: — CNBC’s Michael Bloom contributed to this report.
