AAC Technologies Holdings Inc

02018: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$75.00	Mtzx	Jbjdjgljr

AAC Technologies: Smartphone Tailwinds May Be Delayed to Second Half; No Change to Long-Term View

Phelix Lee

Aug 7, 2024

AAC Technologies' shares have been benefiting from better smartphone shipments in the past few months, but the tailwind to earnings may not show up as much in the first half of 2024. We retain our HKD 23 fair value estimate for now, pending the release of first-half results on Aug. 22, tentatively. The market seems to have priced in additional demand for better smartphone components, and we see upside to be limited by macroeconomic conditions.

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