‘Overweight’ call on technology sector stays

AmInvestment Bank: “We believe in 2022, many consumers will upgrade their iPhones to 5G-enabled ones as the technology becomes more prevalent and this is in line with the IDC forecast, which sees 5G units making up over half of smartphone shipments in 2022,”

KUALA LUMPUR: AmInvestment Bank Bhd has reiterated its “overweight” stance on technology stocks, as it believes the sector is well supported by industry trends with the world embracing automation and various smart products.

Citing the World Semiconductor Trade Statistics’ forecast, it said global sales for semiconductors are expected to grow to US$601bil (RM2.53 trillion) in 2022, up 8.8% year-on-year.