DDR is hosting its 1H24 results presentation today, but it had previously announced and paid an 11c fully franked dividend this month. Last quarter, DDR disappointed the market with a -10% Q1 sales decline, although margins remained solid, which has left the $1.8bn stock languishing at ~$10. Keeping on piste with today’s report, Dicker Data expects an “AI-driven device refresh” in the second half of FY24, following a “subdued market” in the first quarter of its 2024 financial year. This is a similar sort of theme that the likes of JB Hi-Fi (JBH) and Harvey Norman (HVN) should benefit from, as we all go out and buy AI enabled devises!
- We are 50-50 on what comes next for DDR, although clarity may return after today’s results.
MM is neutral towards DDR
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