LOCAL technology companies, which are currently trading at a premium, lack the space to grow their valuations against global players as the industry’s growth momentum tapers and the US dollar weakens against the ringgit.
While global semiconductor sales for 2018 is forecast to grow by 7%, Kenanga Research has noticed that the growth momentum is already moderating, which mimics the movement of the previous up-cycle that occurred from May 2013 to June 2015.
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