Tech, banks in focus for Q1 reporting season, with economic weakness likely to weigh on earnings
TECHNOLOGY companies could report weaker sales for the first quarter of the year, said analysts ahead of the financial reporting season that begins this week.
The banks, too, will be closely watched for signs of a peaking in net interest margins (NIMs), as the pace of interest rate hikes by central banks looks set to slow.
Phillip Securities’ head of research Paul Chew expects a decline in sales within the semiconductors and electronics sectors, as customers lower their forward orders. “The steepness of the decline is less clear,” he said, adding that there might be potential downside surprises for the electronics sector.
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