Stock Track | GIGADEVICE Soars 5.13% Intraday as Morgan Stanley Raises Target Price on Storage Cycle Optimism

Stock Track

Jun 03

GIGADEVICE's stock price soared 5.13% during intraday trading on Wednesday, marking a significant upward movement.

The rally was primarily driven by Morgan Stanley significantly raising its target price for the company, from 348 RMB to 585 RMB. Analysts cited a widening supply-demand gap in the storage industry for the second half of the year, fueled by capacity reductions from major players like Micron and SK Hynix, coupled with robust and growing data center demand. This is expected to lead to a projected 20% rise in DDR4 prices in the third quarter.

Fundamentally, the company's explosive first-quarter earnings, with net profit surging 521.7% year-over-year and gross margin reaching 57.1%, provided further support for the positive sentiment. The movement occurred alongside broader gains in the semiconductor sector.

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Analysts cited a widening supply-demand gap in the storage industry for the second half of the year, fueled by capacity reductions from major players like Micron and SK Hynix, coupled with robust and growing data center demand. This is expected to lead to a projected 20% rise in DDR4 prices in the third quarter.</p><p>Fundamentally, the company's explosive first-quarter earnings, with net profit surging 521.7% year-over-year and gross margin reaching 57.1%, provided further support for the positive sentiment. The movement occurred alongside broader gains in the semiconductor sector.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03986","symbol_name":"兆易创新","start_time":0,"source_url":"","article_id":"1174932268","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1174932268","pubTimestamp":1780451454,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"GIGADEVICE's stock price soared 5.13% during intraday trading on Wednesday, marking a significant upward movement.The rally was primarily driven by Morgan Stanley significantly raising its target...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"03986":"兆易创新"},"translate_title":"个股追踪|兆易创新盘中飙升5.13%大摩因存储周期乐观上调目标价","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03986":1},"content_text":"GIGADEVICE's stock price soared 5.13% during intraday trading on Wednesday, marking a significant upward movement.The rally was primarily driven by Morgan Stanley significantly raising its target price for the company, from 348 RMB to 585 RMB. 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