Xiaomi’s Stock Price Soars to 17.62 HKD, Marking a Robust 1.73% Uptick in Market Performance

Xiaomi (1810)

17.62 HKD +0.30 (+1.73%) Volume: 123.27M

Xiaomi’s stock price stands at 17.62 HKD, witnessing a positive trading session with a +1.73% rise, backed by a robust trading volume of 123.27M. With a commendable year-to-date performance showing a +12.95% gain, Xiaomi (1810) continues to solidify its position in the stock market.

Latest developments on Xiaomi

Xiaomi Corp‘s stock price saw movements today as the company’s electric vehicle sales surged despite facing EU tariffs and increasing competition in the market. Despite these challenges, Xiaomi has managed to maintain a strong position in the EV sector, leading to positive investor sentiment and impacting the stock price. The company’s ability to navigate through these obstacles and continue to grow its EV sales has impressed shareholders, contributing to the fluctuations in Xiaomi Corp‘s stock price today.

Xiaomi on Smartkarma

Analysts on Smartkarma, such as Ming Lu and Devi Subhakesan, are bullish on Xiaomi Corp (1810 HK) as they report on the company’s strong performance in the smartphone market. Xiaomi saw a 17% year-on-year increase in sales in China, shipping 10 million units in the second quarter of 2024. Additionally, Xiaomi’s global market share increased to 15% in 2Q24 from 13% in the previous year, showing high growth and market dominance.

Ming Lu’s research highlights Xiaomi as the only clear gainer of market share among the global top five smartphone players in 2Q24, with shipments increasing by 29% year-on-year. The analyst believes that Xiaomi has an upside potential of 35% by the end of 2024, setting a target price of HK$22.30. Devi Subhakesan also notes Xiaomi’s comeback as the leading player in the Indian smartphone market, surpassing Samsung to claim the top spot in Q2 2024. The upcoming festive season is crucial for Xiaomi’s sales, with customers expecting new launches and better bargains.

A look at Xiaomi Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to Smartkarma Smart Scores, Xiaomi Corp has a mixed long-term outlook. While the company scores well in resilience and momentum, with a score of 5 for both factors, its value and growth scores are moderate at 3. This suggests that Xiaomi Corp may have strong staying power and positive market sentiment, but its potential for growth and value may not be as high compared to other factors.

Xiaomi Corporation, a manufacturer of communication equipment and parts, has a diverse product line that includes mobile phones, smart phone software, set-top boxes, and related accessories. With a focus on global marketing, Xiaomi aims to reach customers worldwide with its innovative technology offerings. Despite varying scores in different factors, Xiaomi’s overall outlook remains stable, with room for improvement in certain areas to further enhance its market position.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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