Ming-Chi Kuo warned that the downside risk of Largan's stock price may be increasing in the near future.
[Financial Channel/Comprehensive Report] Largan Optical (3008), a leading optical lens manufacturer, announced on Monday (5th) that its November revenue was 5.231 billion yuan, a record high in 24 months.
Despite the strong revenue of Largan, Ming-Chi Kuo, an analyst at Tianfeng International Securities, still issued a warning, saying that the peak of Largan’s revenue has passed, saying that the risk of recession in the first quarter and the first half of 2023 has increased, and the market has fully understood the impact of Largan’s revenue. Under the bullish light in 2023 (such as the iPhone 15 Pro adopting a periscope), the downside risk of Largan’s recent stock price may be increasing.
Ming-Chi Kuo tweeted today (6th) that Largan’s November revenue announced on Monday was 5.231 billion yuan, and the strong revenue trend for the fourth quarter of 2022 is consistent with its July and August tweet predictions.
However, Ming-Chi Kuo believes that the stronger Largan’s revenue in the fourth quarter is, the greater the decline in revenue and EPS due to seasonality and economic recession in the first quarter and the first half of 2023 may be.
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Ming-Chi Kuo pointed out that the supply of components for the iPhone 14 Pro series was oversupplied in the fourth quarter due to a significant decline in the assembly utilization rate of Foxconn’s Zhengzhou plant. Gradually increase.
Guo Mingchi said that Largan is one of the biggest winners of the increase in the proportion of iPhone 14 Pro series shipments, but when the risk of iPhone 14 Pro component suppliers cutting orders in the first quarter and the first half of 2023 is gradually increasing, Largan will The negative impact of light will also be greater than that of ordinary suppliers.
Ming-Chi Kuo also reminded investors at the end of the article not to forget that the weakening trend of the US dollar will also be another main reason for Largan’s profit decline in 2023.
As of 12:52 noon on the 6th Taipei time, Largan’s share price was temporarily reported at 2315 yuan, an increase of 1.09%.
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