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<Research>DBS Hikes XIAOMI-W TP to $52; AI Juices Hardware Sales
Recommend 20 Positive 32 Negative 9 |
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XIAOMI-W (01810.HK) is enhancing its AI capabilities, while leveraging its “DeepSeek” open-source platform, which can drastically axe device costs and expedite the development of large language models (LLMs) in China, according to a research note from DBS. The broker believed that Xiaomi will proepl growth in high-end smartphones and the Internet of Things (IoT), and that the aforementioned advancement in AI will further strengthen Xiaomi's competitive edge in the consumer electronics space. DBS expected that Xiaomi's “XM 15” will be able to replicate the success of the “XM 14”, with shipments of the “XM 15” series being 30% higher than the “XM 14” series, thus propelling Xiaomi into the AI-driven smartphone replacement cycle in 2025. The broker also assumed Xiaomi's “XM 15” to juice high-end smartphone shipment growth of 34% and 19% in FY2024 and FY2025 respectively, beating market expectations by 2% and 6% respectively. DBS raised Xiaomi's FY2025 and FY2026 profit forecasts by 13.4% and 15.3% respectively, and significantly lifted its H-share target price from $36 to $52, maintaining a Buy rating. AAStocks Financial News |
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