According to the Economic Daily, Japanese foreign investors pointed out that the COVID-19 epidemic affected terminal demand. IC design plant MediaTek's second-quarter revenue may be flat or within 14% of the quarter, but the volume of new 5G chips in the third quarter will be injected into revenue, so it is maintained The company bought a rating and the target price dropped to 440 yuan (unit NTD, the same below).

Japanese foreign investors released a research report today stating that under the influence of the COVID-19 epidemic, the market continued to revise MediaTek ’s profit forecast for this and next year, but foreign investors believe that the market view is too pessimistic and expect MediaTek ’s second quarter revenue to The first quarter remained flat or increased within 14% of the quarter. At the same time, with the 5G chip Tianji 800 volume, MediaTek's gross profit margin in the second quarter is expected to increase to 43%.

Japanese foreign investors said that although the market is pessimistic about the demand for smartphones, MediaTek has significantly increased its market share of 4G chips in Samsung and Xiaomi, and the market demand for 5G chips may double this year. Foreign investors expect MediaTek to ship 40 million 5G chips this year. , 30 million to 35 million higher than the market speculation.

However, in order to reflect the impact of the epidemic, Japanese foreign investors still revised MediaTek ’s 2020 and 2021 earnings estimates per share to 7% and 4% to 19.76 yuan and 24.3 yuan, and the target price was reduced from 465 yuan to 440 yuan. Reiterate the buy investment rating.