Track semiconductors, computing infrastructure and the technology cycle.
Nomura is positive on CHPT’s progress in cloud service provider processor and AI testing projects, raising its target price from NT$3000 to NT$4000; however, deliveries of low-margin products and expense guidance prompted it to lower its earnings forecasts.
In the third quarter of 2026, SK hynix’s operating profit exceeded Nomura’s expectations, but net profit fell sharply quarter on quarter. Nomura is positive on future memory prices and shareholder returns, and expects share repurchases and cancellations to further boost earnings per share.
Revenue rose 36.8% year on year in the third quarter of 2026, but net profit fell 5% quarter on quarter. Nomura Orient International cut its earnings forecast for the year while raising its 2027–2028 forecasts, betting on higher release-film volumes and economies of scale.
JCET’s third-quarter revenue reached a quarterly record, and the company raised its full-year investment budget by 65%. JPMorgan is optimistic about AI-related orders and product upgrades, while cutting its 2027–2028 earnings forecasts because of additional depreciation.
In the third quarter of 2026, Bestechnic’s revenue recovered quarter on quarter, but net profit fell sharply both year on year and quarter on quarter. Nomura Orient International cut its earnings forecasts and is watching customer adoption and mass-production progress for the BES6100 smart glasses chip.
In the first three quarters of 2026, semiconductors and electronic materials accounted for more than 40% of Injet Electric’s revenue, while new orders rose 169.24% year over year. Materials orders grew the fastest, and the company expects order growth to drive a subsequent increase in revenue.
TUC’s third-quarter gross margin rose to 36.9%, above the Bloomberg consensus. Nomura expects price increases to continue driving profit growth, but has also lowered its valuation multiple because of uncertainty surrounding a key AI customer’s next-generation project.
Third-quarter revenue rose 46% year on year, but the more significant new development is management’s expectation that fourth-quarter interconnect chip revenue growth will rise to about 103% year on year. Bernstein raised its full-year revenue forecast and sees further demand from upgrades to server memory channels.
Third-quarter data center revenue and gross margin exceeded market expectations, but weakening PC demand and inventory adjustments weighed on the fourth-quarter outlook. Bernstein says PC headwinds are more severe than previously expected.
Semiconductor and battery businesses drove OPT’s third-quarter revenue up 46% year over year, but revenue and profit declined quarter over quarter. BofA raised its price target to 97 yuan and remains focused on the near-term margin pressure from expansion into new businesses.
Nomura expects high-end copper-clad laminate prices to rise 10%–20% in the fourth quarter of 2026 and is positive on material upgrades for AI platforms; capacity plans extend to 2030, though some projects have been delayed.
Third-quarter orders and the backlog awaiting installation reached records, and Equinix raised its full-year guidance for the third consecutive time. Bernstein is optimistic about renewal price increases and expansion, but the cost of new debt exceeds the interest rate on existing borrowings.
Oracle expects to need approximately 20 billion dollars in additional financing for the FY26 to FY30 investment cycle and to generate approximately 30 billion dollars in free cash flow in FY29. Citi believes AI application adoption and data center expansion have strengthened the growth outlook.
Revenue rose 33% year over year in the third quarter of 2026, while net profit fell 94%. JPMorgan believes demand remains resilient, but memory costs and competition are eroding the gross profit generated by growth.
On 29 October, Century Hengtong received net institutional buying of 86.92 million yuan, while its share price fell 0.49%. The company provides robot data collection and annotation services to embodied intelligence clients and also has digital businesses including services for vehicle owners.
Megmeet, ZTT, Hongchang Electronics and Mankun Technology reported sharp year-on-year increases in third-quarter net profit, driven respectively by their power-supply business positioning, higher optical fiber prices, higher copper-clad laminate volumes and prices, and increased orders; Decolite plans to invest 1.2 billion yuan to expand optical connectivity product capacity.
Huafu Securities believes that advances in general-purpose models and toolchains could help embodied AI reach a critical milestone, with data collection and robot components two areas worth watching.
Amazon AWS growth fell short of the buy-side threshold, while capital spending reduced free cash flow; Intel data center revenue beat expectations, but a weak PC business weighed on fourth-quarter guidance.
Sandisk’s first-quarter revenue beat Wall Street expectations, but growth came more from shipments, while gross margin and progress on long-term agreements fell short of bullish thresholds; Reddit’s US daily active users declined, and its fourth-quarter revenue guidance was below market expectations.
Alphabet’s search growth missed expectations; Microsoft Azure accelerated, but financing and costs drew attention. ServiceNow and Fortinet face tests involving AI usage growth, the realization of service revenue and margins.
