Xiaomi shows some signs of reverse / end of correction / around listing price. However locally Xiaomi is on the downtrend side.
Reasons to be bullish include an expected surge in revenue and earnings, driven by Xiaomi’s focus on Internet services and its increasing share of the hardware market in China, according to notes seen by Bloomberg. In a 63-page note to clients titled “Building a mountain one grain at a time,” Goldman Sachs analysts including Piyush Mubayi estimate Xiaomi has as many as 190 million users worldwide.
CICC predicts Xiaomi will grow revenue by 45 percent and earnings by 60 percent at a compound annual growth rate in 2018-2020. Morgan Stanley predicts a 61 percent growth rate for net profit in that period. Xiaomi is expected to release earnings on Aug. 22.
Analysts now predict Xiaomi will rise 22 percent from Wednesday’s close, according to the average 12-month target price compiled by Bloomberg.
https://www.bloomberg.com/news/articles/2018-08-09/wall-street-loves-xiaomi-as-ipo-sponsors-predict-surging-profits