Technology Stock Earnings Preview - DBS Research 2022-07-25: Margin Pressure Partially Mitigated By Strong USD

• Expect margin pressure to continue from 1Q22; further trimmed earnings for NanoFilm (SGX:MZH) and Aztech (SGX:8AZ).
• - Read this at SGinvestors.io -
• Top picks: AEM (SGX:AWX), UMS (SGX:558), Venture Corp (SGX:V03), Aztech (SGX:8AZ).

Singapore listed tech manufacturers: Margin pressure to continue from 1Q22.

• For the upcoming 2Q22 results season, we expect more cuts in earnings and target prices, especially for the SGX-listed plays, given that the overall supply and demand situations remain challenging. This time round, besides the supply issues, demand could also be affected.
• - Read this at SGinvestors.io -
• For others such as Frencken (SGX:E28) and Grand Venture (SGX:JLB), we already cut earnings by about 10% to 20% during the release of the 1Q22 results in May.

Aztech (SGX:8AZ)

• Read more at SGinvestors.io.

Lee Keng LING DBS Group Research | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2022-07-25 SGinvestors.io

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