JP Morgan Turns Bullish On Asian Tech

🪢🪢 JP Morgan Has Turned Bullish On Asian Tech Stocks To Profit From Apple And The Metaverse
The bank still forecasts 11% EPS growth for the sector this year
JPMorgan likes recovery plays, such as data centers, selective parts of the Apple supply chain, memory semiconductors and substrates — sub-sectors which the bank says can drive sustainable EPS revisions
JPMorgan believes China data centers could see a “fledging” recovery, led by strong retail momentum amid continued growth in data traffic, secular China cloud demand and continued digital transformation trends
The industry could also see increased consolidation that will benefit larger players
In addition, the bank sees the memory semiconductor market growing 9% to reach $165 billion this year.
Meanwhile, the bank outlined several investment themes that it thinks will be defining for the Asian tech sector in the year ahead. This includes the rising adoption of electric vehicles as the chip shortage eases, which could benefit the EV supply chain
JPMorgan expects global EV penetration to reach 12.2% this year compared to just 8% in 2021
The bank expects the global virtual reality (VR) market to have a “breakthrough” year in 2022, amid new launches from Meta, Sony, and Apple. The bank has forecast the VR and augmented reality (AR) market to grow at a compounded rate of 36% and 128% into 2025
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