Semiconductor - CGS-CIMB Research 2020-10-06: Global Semiconductor Sales Grew In Aug

Tech / Manufacturing - CGS-CIMB Research | SGinvestors.io AEM HOLDINGS LTD (SGX:AWX) ISDN HOLDINGS LIMITED (SGX:I07)

Semiconductor - Global Semiconductor Sales Grew In Aug

  • According to Semiconductor Industry Association (SIA), global semiconductor sales grew 4.9% y-o-y in Aug 2020.
  • We believe the seventh consecutive month of y-o-y global semiconductor revenue growth is due to demand related to 5G applications.
  • Our key picks for semiconductor exposure are AEM Holdings (SGX:AWX) and ISDN (SGX:I07).



Global semiconductor sales grew 4.9% y-o-y in Aug

  • On 5 Oct, the Semiconductor Industry Association (SIA) announced that global sales of semiconductors hit US$36.2bn in Aug 2020, 4.9% higher y-o-y (Aug 2019 sales were US34.5bn) and 3.6% higher than Jul 2020 revenue of US$35.0bn.
  • Aug’s 4.9% y-o-y growth in global semiconductor sales is the seventh consecutive month of y-o-y growth for the industry as secular demand trends insulated the industry from the ongoing global macroeconomic headwinds. Sales in the Americas stood out in Aug, up nearly 24% y-o-y.


AEM Holdings (SGX:AWX) (ADD, Target Price S$4.63)


ISDN (SGX:I07) (ADD, Target Price S$0.501)






William TNG CFA CGS-CIMB Research | Darren ONG CGS-CIMB Research | https://www.cgs-cimb.com 2020-10-06
SGX Stock Analyst Report ADD MAINTAIN ADD 4.630 SAME 4.630
ADD MAINTAIN ADD 0.501 SAME 0.501



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