Spinee wrote a post · Dec 11, 2023 18:18

UBS Raises XIAOMI-W TP to $18

UBS's smartphone survey shows stable global 12-month purchase intentions at 39%, slightly down from 41% in 2Q23. The global replacement cycle is now 2.48 years, with a narrower cycle in China. The forecast for global smartphone shipments in 2023/2024 is revised to 1.15 billion and 1.19 billion units, indicating a 4% YoY decline and a 3% hike. UBS expects the recovery to extend beyond 2024, reaching 1.21 billion units in 2025.

UBS is optimistic about $XIAOMI-W (01810.HK)$ , suggesting its technology differentiation will sustain premium penetration. XIAOMI's global market share is projected to rise to 14% in 2025, with premium sales growing to 15%. The broker anticipates XIAOMI to become the first brand with smartphones, home IoT, and smart EVs by 2Q24.

UBS raised its target price on XIAOMI from $16 to $18, maintaining a Buy rating.

$XIAOMI-WR (81810.HK)$ $Xiaomi Corp. Unsponsored ADR Class B (XIACY.US)$ $Xiaomi Corp. (XIACF.US)$ $Huawei Hongmong (LIST0795.SH)$ $Apple (AAPL.US)$

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