revenue guidance

This is compared to its previous guidance of between $670 million to $720 million made on Jan 11.

KGI analyst Kenny Tan says AEM's guidance raise reflects a “changing sentiment” due to continued orders from Intel. In addition, companies in the tech sector can generally remain defensive amid the Covid-19 pandemic.

This came on the back of a 179% increase in revenue to $146.8 million from $52.7 million in 1QFY2019, due to increased orders from its main customer of 18 years, Intel.