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Morgan Stanley Bullish on US CSP Capex, Highlights 15 Taiwanese Supply Chain Stocks
Electronic Technology · Computer Communications · economic_daily · 2026-11-03
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Morgan Stanley remains optimistic about US cloud service providers' infrastructure spending, projecting long-term growth for 15 Taiwanese server and component suppliers.
What Happened
Optimistic Capex Outlook: Morgan Stanley's latest report indicates that major US cloud service providers (CSPs) continue to invest heavily in infrastructure. While market attention is shifting toward 2027, current demand remains robust and continues to outpace supply, providing a positive outlook for the hardware supply chain.
Taiwanese Supply Chain Gains: The firm has assigned 'Overweight' ratings to 15 Taiwanese stocks, including Wistron, Wiwynn, and Quanta. These companies are positioned as key partners for global tech giants like NVIDIA, AMD, and Amazon in the assembly and production of AI servers.
Component Demand Surge: The expansion of AI server demand is driving significant growth for PCB, copper-clad laminate (CCL), and ABF substrate manufacturers. Companies such as Gold Circuit Electronics, Elite Material, Taiwan Union Technology, Unimicron, and Nanya PCB are benefiting from the increased demand for computing and networking chips.
Strategic Component Growth: Lotes is also highlighted for its role in CPU sockets and AI-related connectors, with momentum in quick-connectors and specialized sockets accelerating. Analysts believe these Taiwanese firms are well-positioned to capture long-term growth from both traditional and AI server infrastructure upgrades.