FIT HON TENG：Share pressure overdone; Raise estimates for stronger AirPods/AI server upside

9 Jul 2024 CMB International Global Markets | Equity Research | Company Update FIT Hon Teng (6088 HK) Share pressure overdone; Raise estimates for stronger AirPods/AI server upside FIT Hon Teng announced a positive profit alert for 1H24 earnings, at US$28- 33mn (vs net loss of US$9mn in 1H23), mainly driven by stronger computing (PC)/ networking (server) segments and better operating efficiency. However, stock price is pressured by questions on 2024 earnings recovery pace and higher OPEX for AirPods and Vol ...