Just two days ago, the world witnessed the long-awaited release of the iPhone 15.
As the clock struck midnight in Indonesia on September 13th or 10:00 AM on September 12th in the United States, Apple enthusiasts and tech aficionados worldwide eagerly celebrated the arrival of the latest addition to the iconic iPhone series.
This next-gen device has now officially set new standards for innovation and consumer technology.
The iPhone 15 was set to make its debut in four distinct variants, each promising a unique blend of cutting-edge features and sleek design. These variants included the iPhone 15 Pro Max, iPhone 15 Pro, iPhone 15 Plus, and the standard iPhone 15.
Source: GSMArena.com, Sucor Sekuritas
One significant transition marking this release was Apple's adoption of USB-C as the standard charging port for their smartphones.
This shift was not just a random choice but a strategic move in response to evolving regulations, particularly in the European market.
Source: Digital Trends, Sucor Sekuritas
As the iPhone 15 heralded a new chapter in mobile technology, it paralleled the broader transformation occurring in Indonesia's digital landscape. This shift wasn't limited to smartphones alone; it encompassed the entire spectrum of IT solutions.
Businesses across the nation were diverting substantial resources into IT infrastructure, reflecting the growing importance of technology in staying competitive.
This transformation presented a remarkable growth opportunity for Metrodata Electronics (MTDL), aligning perfectly with the company's readiness to offer integrated and comprehensive digital solutions, all while maintaining a commitment to quality services at competitive prices.
Metrodata Solutions Day (MSD) 2023, held on August 23rd, was a testament to MTDL's commitment to staying at the forefront of technology trends.
The event showcased the transformative potential of artificial intelligence (AI) in business. It attracted industry leaders, executives, and professionals eager to adopt practices from tech giants such as Microsoft, Amazon, and Google.
Beyond the insightful seminars and workshops, this collaborative environment fostered ideas on how these innovative solutions could drive MTDL's clients toward their business objectives.
Notable figures at MSD also emphasized the imminent AI boom in Indonesia and its transformative potential across various industries. They also highlighted MTDL's pivotal role as a partner poised to benefit from the widespread adoption of AI among Indonesian companies.
Based on our channel check, MSD 2023 recorded the highest turnout to date, reflecting companies' ever-growing interest in seeking IT solutions to enhance their operations.
Remarkably, IT teams from major publicly-listed companies were in attendance, signaling a potential increase in IT investment within these institutions.
The synergy of strong interest witnessed at MSD 2023 and the cyclical upturn in IT economic activity expected in the 2H23 positions MTDL for robust net profit growth, projected at 4.3%. This growth is set to reach Rp605bn in 2023F, signifying a recovery from a relatively flat first half of the year.
In conclusion, MTDL's enormous presence in Indonesia's growing IT industry makes it an exciting player in the country's tech landscape.
The company's strategic positioning and its commitment to delivering quality digital solutions position it for remarkable earnings growth in the coming years.
With a DCF-based TP of Rp825, implying 15.5x forward FE (average 2023-24F), we reiterate our confidence in MTDL's potential and recommend a BUY rating.