Look for:

Our offer for

Research Detail

2022/08/19 / Erste Group Research

Wachstum des Halbleitersektors bremst sich ein


Der globalen Aktienmarktindex setzte in der letzten Woche seinen Aufwärtstrend fort. Er legte in EUR um +1,4% zu. Der S&P 500 stieg in EUR um +1,7%. Der Stoxx 600 notiert im Wochenvergleich unverändert.
Das Wachstumstempo des Halbleitersektors nimmt ab. Die Umsätze der Unternehmen des Philadelphia Semiconductor Index werden 2022 voraussichtlich um +6,7% (j/j) steigen. Das ist eine deutliche Verlangsamung gegenüber dem Vorjahr. Auch die Nettogewinne werden nach einem erwarteten Wachstum 2022e von +29% (j/j) im nächsten Jahr wesentlich langsamer ansteigen (2023e: +3,9%).

Ausblick: In der kommenden Woche werden am Dienstag wichtige Einkaufsmanagerindizes für die Eurozone bzw. USA und Japan veröffentlicht. Am Mittwoch berichtet auch der Halbleiterhersteller NVIDIA (Kaufen) über die Geschäftsentwicklung im letzten Quartal. Wir erwarten, dass der globale Aktienmarktindex in der kommenden Woche seitwärts tendieren wird.

Der ATX schloss diese Woche 1,4% tiefer belastet von der schwachen Kursperformance der ATX-Schwergewichte Erste Group und voestalpine. Stärkster ATX-Wert war diese Woche die SBO nach starken Q2-Zahlen. Zahlreiche weitere Unternehmen öffneten diese Woche ihre Bücher. Positiv hervorzuheben dabei FACC und Flughafen Wien, die deutlich von der Erholung des Flugsektors profitierten. Die Versicherer VIG und Uniqa zeigten ebenfalls solide Ergebnisse trotz Abschreibungen auf russische Anleihen. Bei Industriewerten fraß sich hingegen die Kosteninflation spürbar in die Margen.

PDF Download Download PDF (1.1MB)

General information

AuthorErste Group Research
Date2022/08/19
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Chemicals, Construction & Material, Industrial Goods & Services, Insurance, Technology
Download


Erste Group related products

Name  ISIN# Erste Group products
Addiko BankAT000ADDIKO00
FACCAT00000FACC235
Kapsch TrafficComAT000KAPSCH90
SBOAT000094665220
SemperitAT00007855550
STRABAGAT000000STR15
UniqaAT000082110380
Vienna Int. AirportAT00000VIE620
VIGAT000090850442



Decline
Accept

We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. For more details please read our Data protection policy.

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).

The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.

Neither Erste Group nor any third party shall offer access to the Websites or offer the products to especially, but not limited to citizen/residents of the United States and “U.S. person” (as defined in Regulation S under the US Securities Act 1933 as amended). For this reason, the distribution or redistribution of the information, materials and products into United States or into any other jurisdiction where it is not permitted under the applicable law, as well as to the citizens/residents of these countries shall be prohibited. The securities displayed on the Websites have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. For this reason the securities may, inter alia, not be offered, sold or delivered within the United States or, for the account and benefit of U.S. persons.

The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.

By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.