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Analysts Raise ASE Technology Price Target Amid Strong Advanced Packaging Outlook
Electronic Technology · Semiconductors · economic_daily · 2026-10-16
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ASE Technology sees its profit forecasts and price targets upgraded by analysts, driven by robust demand for advanced packaging and AI chip testing services.
What Happened
Strong Financial Performance: ASE Technology reported third-quarter revenue of NT$244.16 billion, exceeding market expectations due to outsourced orders from TSMC and growth in testing services. Analysts have subsequently revised up the company's profit forecasts for 2026 and 2027, leading to a nearly 10% increase in the target price.
Expansion of Advanced Packaging: Investment firms project that ASE's advanced packaging projects will double from $4.14 billion in 2026 to $8.41 billion by 2027. The company is significantly scaling its WoS production capacity from 750,000 to 1.47 million units to capture rising demand in the AI sector.
Robust AI Chip Demand: ASE provides comprehensive services for major players including NVIDIA, AMD, and Broadcom, with demand expected to remain strong through 2027. This growth is largely fueled by cloud service providers expanding their inference capabilities, keeping ASE's high-end packaging lines fully utilized.
Future Growth Drivers: Analysts highlight that optical engine testing and CPO testing are emerging as key revenue drivers, particularly with the upcoming launch of NVIDIA's new GPU platforms. Given the aggressive capacity expansion plans, experts believe there is further upside potential for the company's profitability.
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