Semiconductor Manufacturing (SMI) Raises Q2 Sales Guidance
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In a Form 6-K, Semiconductor Manufacturing International Corporation (NYSE: SMI) raised its Q2 sales guidance from up 58-62% to up 76-78%.
The firm cited strong growth in its customer orders, exceeding earlier expectation, due to the robust demand in the China market.
There is evidence that the economy is stabilizing but it is far from recovery. It is unclear whether the strong growth in our customer orders seen by the Company for Q2 comes from rushed orders by customers to replenish inventory or is an indication of the beginning of a sustainable recovery of the economy in general. The Company cannot at the moment give, and is not giving, any guidance on Q3 or onwards revenues.
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