Accton Technology Corporation: Solid Momentum for Network Switches and AI Accelerator Modules in 2H26

Research evidence excerpt

Accton Technology Corporation: Solid Momentum for Network Switches and AI Accelerator Modules in 2H26

Idea

July 5, 2026 10:54 PM GMT

Morgan Stanley Taiwan Limited+MAccton Technology Corporation | Asia Pacific Derrick Yang

Equity Analyst

Solid Momentum for Network Derrick.Yang@morganstanley.comVivi Huang +886 2 2730-2862

Research Associate

Vivi.Huang@morganstanley.com +886 2 2730-2860

Switches and AI Accelerator Morgan Stanley Asia Limited+

Andy Meng, CFA

Equity AnalystModules in 2H26 Andy.Meng@morganstanley.com +852 2239-7689

What’s Changed

Accton Technology Corporation (2345.TW) From To

Price Target NT$3,350.00 NT$3,800.00

Given strong network switch shipments and the earlier ramp of

Accton Technology Corporation (2345.TW, 2345 TT)

the new AI accelerator module, we think its 2Q26 revenue is Top Pick

tracking to be up 25-30% QoQ vs. our original expectation of up Greater China Technology Hardware | Taiwan

20% QoQ. Momentum is likely to sustain in 2H26, with Stock Rating Overweight

sequential revenue growth in 3Q26 and 4Q26. Stay OW. IndustryPrice targetView NT$3,800.00In-Line

Up/downside to price target (%) 39

Spec upgrade and new customer driving the network switch business: On top of Shr price, close (Jul 3, 2026) NT$2,735.00

52-Week Range NT$2,800.00-727.00

the favorable industry dynamics of increasing data traffic from a bigger and more

Sh out, dil, curr (mn) 559

powerful compute installed base, the big theme this year is the migration into the Mkt cap, curr (mn) NT$1,528,613

EV, curr (mn) NT$1,467,962

800G spec in a more aggressive way. Its existing customers shall pull in more 800G Avg daily trading value (mn) NT$7,336

network switches in 2H26 along with the new generation ASIC server ramps and the Fiscal Year Ending 12/25 12/26e 12/27e 12/28e