SINGAPORE (May 8): AEM Holdings surged 19.4% to close at $3.08 on May 8, after the company raised its revenue guidance and a flurry of analysts’ upgrades followed.

On May 6, the company raised its revenue guidance for FY20F to $430 million to $445 million from $360 million and $380 million. 

In the same statement, AEM Holdings also estimated a higher order book for delivery in FY20F to $416 million, a 23% increase from its previous $338 million. AEM Holdings also booked its “best quarter on record”, primarily due to increased orders from its key customer, Intel.

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