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CIMB: Semiconductor (Overweight) – AEM, Grand Venture

Global semicon sales grew 26.2% in 2021

? The Semiconductor Industry Association (SIA) today announced that global
semiconductor revenue grew by 26.8% yoy in Jan 2022.
? World Semiconductor Trade Statistics (WSTS) said global semiconductor
sales grew by 26.2% yoy in 2021. It expects a growth of 10.4% in 2022F.
? Our Add picks for the Singapore semicon sector are AEM and Grand Venture.

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