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SMIC, Hua Hong Forecast Higher Q2 Revenue on AI Demand, Memory Supply Constraints

GateNews
Stocks
ON1.68%
UP1.51%
IN-3.05%
According to South China Morning Post, SMIC and Hua Hong Semiconductor forecast higher second-quarter revenue driven by AI demand and memory supply constraints. SMIC guided Q2 revenue of $2.86 billion to $2.91 billion, up from $2.51 billion in Q1. Hua Hong forecasted Q2 revenue of $690 million to $700 million, compared with $661 million in Q1. SMIC expressed increased optimism about full-year operations based on customer demand and orders on hand.
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