Asetek just released the second guidance upgrade for 2023. Comparing to the first one released on 7 June, the company now expects revenue growth of 40-45% (previously 25-35%) and EBIT of USD 7-9m (5-7). We understand the upgrade is mainly driven by a faster-than-expected rebound in the gaming market and applying the mid point of the new guidance range, our EBIT estimates need to increase by 30% for 2023, but less for 2024-25. We expect the shares to outperform today.
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