Lates News

Goldman Sachs has raised its 12-month target price for SMIC's H shares from HK$73.1 to HK$83.5, stating that the long-term growth prospects of Chinese AI chips are becoming clearer, which will benefit leading domestic foundries such as SMIC. Analyst Allen Chang noted in the report that the increasing capital expenditures of Chinese cloud service providers and the growing demand for AI chips in various terminal applications will continue to drive the demand for AI chips in China. Goldman Sachs also raised its 12-month target price for SMIC's A shares from RMB 160.1 to RMB 182.8, continuing to use a 238% A-H valuation premium as the target price for A shares.