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Gold Circuit Electronics Revenue Beats Estimates; Analysts Project EPS to Top NT$40
Electronic Technology · Electronic Components · economic_daily · 2026-09-23
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Driven by strong demand for AWS Trainium 3 and switches, Gold Circuit Electronics reports better-than-expected revenue, with analysts forecasting EPS exceeding NT$40 this year.
What Happened
Revenue Performance: Gold Circuit Electronics reported a strong performance for July and August, with cumulative revenue reaching NT$20.39 billion, exceeding market expectations. This growth is primarily fueled by robust demand for AWS Trainium 3 chips and network switches, leading analysts to project an annual EPS of NT$40.3, representing a 117.8% year-over-year increase.
Technical Upgrades: The company's growth is underpinned by the continuous evolution of PCB specifications, including the shift toward higher layer counts for 800G switches and the upcoming transition to 1.6T technology. Furthermore, the adoption of HDI and HLC hybrid designs for AWS Trainium 4 is expected to significantly boost the average selling price (ASP) of its products.
Manufacturing Challenges: While some market participants express concerns regarding potential yield rate challenges during the initial production of AWS Trainium 4, the company has sufficient time to optimize its processes. As one of the few PCB manufacturers capable of large-scale high-layer count production, Gold Circuit's expertise in HDI processes provides a distinct competitive advantage.
Future Outlook: Looking ahead, Gold Circuit is well-positioned to secure orders from major cloud service providers for ASIC PCBs. Analysts remain optimistic about the company's growth trajectory, expecting sustained profit expansion into next year as server motherboard requirements become increasingly complex.