SEHK:981Semiconductor
SMIC (SEHK:981) Stock Can Profit Momentum Justify Its 74.2x P/E?
Semiconductor Manufacturing International stock closed at HK$70.8 today after a flat week and a softer month, yet the latest quarter landed with a jolt. Q2 revenue reached US$3,005.6m and net income came in at US$479.2m, which is a powerful lift from recent quarters for a company already trading on a trailing P/E of 74.2x.
In the very short term, traders may fret about that rich valuation. Over a longer horizon, the focus now turns to whether this profit surge and recovering margins can...