Odaily Planet Daily reports that Morgan Stanley released a research report stating that Xiaomi Corporation (01810.HK) will announce its second-quarter results on August 18. Current expectations indicate strong smartphone shipment volumes and gross margins, with the company’s quarterly total revenue projected to exceed RMB 100 billion and adjusted net profit estimated at approximately RMB 6 billion. According to the latest data from Omdia, Xiaomi’s smartphone shipments in the second quarter reached 31.2 million units, 15% higher than the bank’s expectations. Benefiting from an all-time high average selling price and resilient shipment volumes, the bank expects the smartphone gross margin to remain above 8% in the second quarter, primarily reflecting the pass-through of rising costs. Morgan Stanley maintains its “Overweight” rating and HK$32 target price for Xiaomi. (Jinshi)
Morgan Stanley: Xiaomi's Q2 smartphone shipments surpass expectations; maintains 'Overweight' rating
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Summary
Morgan Stanley cited on-chain data showing Xiaomi's Q2 smartphone shipments reached 31.2 million units, 15% above its forecast. The firm expects revenue to exceed 100 billion yuan, with operating net profit around 6 billion yuan. Xiaomi's Q2 earnings report is due on August 18. Morgan Stanley maintains an 'Overweight' rating with a HKD 32 target price. Altcoins to watch may gain momentum amid broader market optimism.
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