In today’s briefing:
- AEM: Increased FY22 Revenue Guidance; Riding on Intel’s Capex Binge into Multi-Year Ramp
AEM: Increased FY22 Revenue Guidance; Riding on Intel’s Capex Binge into Multi-Year Ramp
- AEM reported strong 1Q22 results (+226% YoY) and raised its FY22 revenue guidance to 700-750M SGD. AEM management continues to believe they are in a multi-year ramp-up.
- While the US tech sector is imploding left and right AEM is a very specific story linked to Intel’s CAPEX binge. Expect momentum to remain in FY22 and into FY23.
- Fair Value of 8 SGD remains unchanged (based on 20x 0.40 FY22 EPS), or 62% upside from the current 4.92 SGD share price.
Before it’s here, it’s on Smartkarma
