Equity Analysis /

SG : AEM Holdings Ltd - To benefit from Intel’s investment in Europe

    William Tng
    William Tng

    Small Caps Analyst

    25 March 2022
    Published by

    Intel continues its expansion plan and on 15 Mar 2022 announced possibly up to €80bn investment in Europe over the next decade. We expect AEM to benefit from Intel’s expansion, as the latter should translate into demand for its test handler (TH) products. We assume AEM will remain the sole TH supplier for Intel’s current testing methodology. Reiterate Add; TP unchanged at S$6.85.