Lai has kept his “buy” call on AEM with an unchanged target price of $6.34 on the back of the news.
Analysts from Maybank Securities and UOB Kay Hian are remaining positive on AEM Holdings after Intel announced that its 18A process node is six months ahead of schedule. The node is expected to be manufacturing ready by the 2HFY2024.
“This should help Intel regain manufacturing leadership. Intel said research and development (R&D) for the node is on or ahead of milestones, imbuing confidence it can begin manufacturing on this node in 2024,” says Maybank Securities analyst Lai Gene Lih.
