บทวิเคราะห์ (Research)

KGI (Thailand) held an online seminar, featuring analysts from KGI (Taiwan) on the topic Tech industry analysis amidst uncertainties from US tariffs on June 5, 2025. The online seminar covered the outlook on semiconductors and IT hardware. The impact from tariffs could cause pull-in demand for the first half of this year, cancelling out the peak season in the second half of the year and possibly causing a downturn in the industry. Though as supply chain shift to the US could be seen to mitigate the impact from tariffs, higher costs would result in higher average selling prices and possibly softer demand (especially for consumer products). Given the globally linked supply chain, Thailand’s electronics companies may not avoid this softening trend. However, low earnings bases in 1Q25 may limit the magnitude of the weakening. We rate the Electronics sector Neutral without any top picks