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<Research>M Stanley Cuts 2026 Global Smartphone Shipment Forecast by 15%
Recommend 14 Positive 25 Negative 6 |
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Morgan Stanley has released a report predicting that the 2026 smartphone shipments will face significant downward pressure due to a sharp increase in memory costs. Given that companies with higher Apple exposure and non-smartphone businesses will be in a more advantageous position, Morgan Stanley listed its recommendations as follows: XIAOMI-W (01810.HK) > AAC TECH (02018.HK) > BYD ELECTRONIC (00285.HK) > CRYSTAL-OPTECH (002273.SZ). In Morgan Stanley's estimation, smartphone OEMs will raise average selling prices and pass on most of the component costs. Such price increases are likely to lead to substantial demand shortages for Android smartphones, as end-users are more price-sensitive. The broker has lowered its 2026 global smartphone shipment forecast by 15% to 1.1 billion units. Among Android OEMs, Morgan Stanley prefers XIAOMI-W over TRANSSION HOLDINGS (688036.SH), and the latter's rating has been downgraded to Equalweight. The broker has reduced its target prices for AAC TECH and BYD ELECTRONIC, but their ratings remain Overweight thanks to their Apple exposure. SUNNY OPTICAL (02382.HK)'s rating has also been downgraded to Equalweight. Detailed target prices are available in a separate table. AAStocks Financial News |
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