Xiaomi’s Peer-Beating Rally Sets High Bar Ahead of Earnings
Shares of the Chinese maker of electric vehicles and smartphones have surged almost 90% in the past six months.
Photographer: Qilai Shen/BloombergIt’ll be tough for Xiaomi Corp. to beat investors’ already high expectations when it reports earnings later Tuesday.
Shares of the Chinese maker of electric vehicles and smartphones have surged almost 90% in the past six months, beating all other members of the Hang Seng Tech Index. The stock now trades at 28 times estimated earnings for the next year, making it one of the most expensive in the sector.