United Micro Electronics unveils cost-effective 5G chipsUnited Micro Electronics has recently launched an innovative line of miniaturised, yet economical 5G chips, aiming to penetrate various markets including Internet of Things (IoT) devices, consumer electronics, automotive sectors, and data centres. This initiative is founded on UMC's novel RFSOI (Radio Frequency Silicon on Insulator) platform.
The new chip design has achieved a significant reduction in size by more than 45% for a 55-nanometre chip used in 5G applications. This size reduction allows for more chips to be placed on a single wafer, significantly cutting costs without compromising on critical specifications such as the number of supported frequencies and data rates. This development underscores United Micro Electronics' competitive edge in the semiconductor industry.
Exploring investment opportunities, here is the technical analysis for United Micro Electronics ADR (NYSE: UMC):
In the Daily (D1) timeframe, the stock shows resistance at 8.30 USD and support at 7.40 USD. Currently, the stock is in a global downtrend, but it is noteworthy that the low from mid-October 2022 has not been surpassed, suggesting a potential shift towards an uptrend. For this transition to be confirmed, the stock needs to break through and sustain above the current resistance level. If the downtrend persists, the next price target could be around 6.80 USD.
On a rebound from the resistance level at 8.30 USD, you can consider buying with a short-term target at 9.60 USD. In the medium term, the target for holding a long position is 11.80 USD.
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