Technical Analysis – 31 January 2024
United States | Singapore | Hong Kong | Earnings
Bank of America Corp. (BAC US)
- Shares closed at a high since Feb 23 with a surge in volume.
- MACD just turned positive, RSI is constructive.
- Long – Entry 34.50, Target 37.50, Stop 33.00
Citigroup, Inc. (C US)
- Shares closed at a 52-week high with a surge in volume.
- MACD just turned positive, RSI is at an “overbought” level.
- Long – Entry 56.50, Target 61.50, Stop 54.00
Sembcorp Industries (SCI SP)
- Shares closed higher above the 5dEMA with a surge in volume.
- MACD just turned positive, RSI is constructive.
- Long – Entry 5.60, Target 6.10, Stop 5.35
Geo Energy Resources. (GERL SP)
- Shares closed higher above the 5dEMA with constructive volume.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 0.340, Target 0.380, Stop 0.320
Zhejiang Shibao Co Ltd (1057 HK)
- Shares tested the 50dEMA and closed below the 20dEMA with an increase in volume.
- RSI is constructive, while MACD is positive.
- Long – Entry 2.10, Target 2.28, Stop 2.01
Prada SpA (1913 HK)
- Shares closed higher above the 5dEMA with constructive volume.
- MACD is constructive, while RSI is at an overbought level.
- Long – Entry 50.1, Target 53.7, Stop 48.3
Super Micro Computer Inc (SMCI)
- 2Q24 Revenue: $3.66B, +103.3% YoY, beat estimates by $400M.
- 2Q24 Non-GAAP EPS: $5.59, beat estimates by $0.43
- 3Q24 Guidance: Expects net sales of $3.7bn to $4.1bn, vs analysts estimates of $2.87bn GAAP net income per diluted share of $4.79 to $5.64 and non-GAAP net income per diluted share of $5.20 to $6.01. FY24 Guidance: The company is raising its guidance for revenues from a range of $10bn to $11bn to a range of $14.3bn to $14.7bn.
- Comment: Super Micro surpassed expectations, with its revenue growing 103% YoY to $3.66B, surpassing FY21’s entire revenue. Despite a slight decline in gross margin to 15.4% from the previous 18.7% in 2Q23, the company’s net income doubled to $296mn and diluted net income per share rose to $5.10. These results were driven by robust demand and improved supply conditions for GPU and key system components. The company’s rack-scale plug-and-play IT and AI total solution gained more customers, especially in the AI sector, with growing popularity for deep learning and LLM-optimised solutions based on NVIDIA HGX-H100. It anticipates increased demand, having recently raised $600mn in working capital through an equity offering. and projected stronger-than-expected guidance for the current quarter. The company also raised its revenue outlook for FY24 showing confidence in sustained demand for its AI servers and IT solutions. With the current investor focus shifting more towards AI-related companies, Super Micro is well positioned for the ongoing AI boom, with plans to expand its AI portfolio and manufacturing capacity, in preparation for Supermicro 4.0 and further business growth. 3Q24 recommended trading range: $520 to $600. Positive Outlook.
超微电脑(SMCI)
- 24财年第二季营收：36.6亿美元, 同比增幅103.3%，超预期4亿美元
- 24财年第二季Non-GAAP每股盈利：5.59美元，超预期0.43美元
- 24财年第三季指引：预计净销售额为37亿美元至41亿美元，而分析师预计GAAP摊薄后每股净利润为28.7亿美元，为4.79美元至5.64美元，Non-GAAP摊薄后每股净利润为5.20美元至6.01美元。24财年指引：该公司将营收指引从100亿美元至110亿美元上调至143亿美元至147亿美元。
- 短评：超微超超预期，其收入同比增长103%，达到36.6亿美元，超过了21财年的全部收入。尽管毛利率从23年第二季度的18.7%略微下降至15.4%，但公司的净利润翻了一番，达到2.96亿美元，摊薄后每股净利润上升至5.10美元。这些结果是由GPU和关键系统组件的强劲需求和改善的供应条件推动的。随着基于英伟达HGX-H100的深度学习和大语言优化解决方案越来越受欢迎，该公司的机架级即插即用IT和人工智能整体解决方案赢得了更多客户，特别是在人工智能领域。该公司最近通过股票发行筹集了6亿美元营运资金，预计需求将增加。并预计当前季度的指引将强于预期。该公司还上调了24财年的收入预期，显示出对其人工智能服务器和IT解决方案持续需求的信心。随着目前投资者的注意力更多地转向与人工智能相关的公司，超微电脑已经为持续的人工智能热潮做好了准备，计划扩大其人工智能投资组合和制造能力，为超微4.0和进一步的业务增长做好准备。24财年第一季度建议交易区间：520美至600美元。积极前景。
