$ChipMOS TECHNOLOGIES (IMOS.US)$Selected in the March 2022 analysis due to continued growth, the stock price has dropped 24% to 27.84 so far.
In the past 5 years, both revenue and operating profit increased in the first 3 years and shrank in the next 2 years. The cyclical nature is very strong, and the net profit in 2023 is far lower than in 2018. Currently, the price-earnings ratio is 16.6, and the five-year average net profit of 100 million yuan corresponds to a price-earnings ratio of 10.1, which is not very attractive.

In the first half of 2024, there have been turbulent global events and a multitude of hot topics, with investors witnessing one historic event after another. Among major assets, the US stocks supported by 'AI concept' and the 'Big Seven' have continued their strong performance since last year, achieving multiple record highs. Meanwhile, the market hotspots have been constantly rotating, from the Nikkei, gold, and copper to silver, then to Hong Kong stocks. The objects of investor interest have been evolving continuously.
During this eventful six-month period, which asset categories have been leading globally? And which market symbols have been underperforming? Let's take a quick look first.
US stock market
The Nasdaq Composite Index, mainly comprised of technology companies, maintained its strong momentum in the first half of 2024, with an increase of nearly 18% since the beginning of the year. Big players in the US stock market, including Nvidia, Apple, Google, Microsoft, and Amazon, have repeatedly reached new highs. The blossoming of various companies in the AI industry chain has driven the overall rise of US stocks.
For the future trend, the bulls believe that the current financial environment in the United States is relatively loose, with expanded corporate profit margins, coupled with the ongoing AI boom, which is expected to continue to support the US stocks; while the bears mainly emphasize the continuous high interest rate environment from the perspective of interest rates, pointing out that it may trigger an economic hard landing and believe that the market has overlooked many risks, such as risks in the domestic political situation in the United States, geopolitical factors, and the market being excessively concentrated on a few stocks such as Nvidia.
港股市场
From an overall perspective, the Hong Kong stock market showed a trend of volatile upward movement in the first half of the year, with a rapid surge in May...