KUALA LUMPUR (April 24): ViTrox Corporation Bhd (KL:VITROX) surged on Friday thanks to a better-than-expected quarter and a broad rally in the technology sector.
Following the strong start, the automated test equipment maker is expected to sustain its growth in the coming months on the back of rising demand from artificial intelligence (AI), data centres, and electric vehicles, according to CIMB Securities, Hong Leong Investment and Apex Securities.
“We continue to expect sequential earnings expansion” supported by the AI-driven demand upcycle, expanding new product pipeline, and lower effective tax rate from the government’s pioneer incentive programme, Apex Securities said.
At the midday break on Friday, shares of ViTrox rose 52 sen or 10% to RM5.50, set for its biggest jump in a single day since April 2025. The stock is also outperforming the Bursa Malaysia Technology Index and the country’s benchmark FBM KLCI.
Since the year began, ViTrox has added 38% to its market capitalisation, which now totals over RM10 billion and is near its record high, and a large majority of analysts now expect further upside. Out of 13 analysts tracked by Bloomberg, eight have ‘buy’ calls, while three have ‘hold’ recommendations and two have ‘sell’ ratings.
“We also expect ViTrox to benefit from the new product refresh cycle” targeting AI servers, telecommunications, and automotive applications, CIMB Securities said.
The new automated board inspection products should drive sales and help deliver a 43% increase in earnings per share for ViTrox this year, the research house added.