STMicro: Oddo says has its own growth levers
(CercleFinance.com) - October 2019's global semiconductor sales were released last night by the World Semiconductor Trade Statistics (WSTS).
In smoothed data (3-month moving average), they reached 36.6 billion dollars, above Oddo's forecast of 35 billion dollars.
Oddo confirms its preference for ASML, a story of structural dominance (with a 90% market share in lithography, 100% in EUV).
The broker also prefers STM over IFX, both of which groups are not exposed to memory. However, STM has proven its ability to protect margins and has its own growth levers (Apple, Tesla and others), Oddo adds.
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