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Hot stock: AEM gains on expected profit bump

SHARES of semiconductor equipment firm AEM Holdings rose on Tuesday after it upped its profit guidance.

AEM, said to be the sole supplier for chipmaker Intel's latest test handler, on Monday said it expects its operating profit before tax for the 2017 financial year to reach between S$35 million and S$37 million, up from a previous guidance of at least S$32 million.

The stock gained 44 Singapore cents, or more than 12 per cent, to S$4.07 as at 10.01am. About 1.2 million shares changed hands.

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