Computex 2026 Debrief Call and Investor Q&A

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Computex 2026 Debrief Call and Investor Q&A

Macquarie Equity Research Computex 2026 Debrief Call and Investor Q&A

Mark Li • Cyclical memory recovery: The memory sector is experiencing a powerful cyclical upturn,

heavily favouring high-value enterprise components like MRDIMM DDR5 and advanced

NAND flash modules over legacy solutions.

• Mainland Chinese contenders: Mainland Chinese memory vendors are aggressively

positioning their portfolios for international hyperscale adoption, serving as a structural

tailwind for niche DRAM module players and interconnect chip designers.

• GigaDevice (603198.SH / 3986.HK): A regional vendor in niche DRAM, SLC NAND, and

NOR Flash. Partnered with manufacturer CXMT, it is capturing multi-fold ASP expansions in

niche DRAM backed by robust domestic OEMs, while its SLC NAND lines see steady, volume-

driven price firming.

• Montage Technology: Monetising a highly specialised position in memory interconnects

via MRCCs (clock drivers) and MDBs (data buffers). Management says it is structurally

positioned for outsized gains from the migration to MR-DIMM DDR5 and DDR6, with

medium-term catalysts including high-speed PCIe retimers and emerging CXL expander

controller (MXC) chips.

Nick Hung • Long-term silicon photonics roadmap: Wiwynn’s extensive showcase with Ayar Labs

highlights a technical path for co-packaged optical I/O (OIO), utilising FOCI and Broadwave

FAU connectors alongside Landmark (3081 TT, Outperform) laser sources. However, this

optical scale-up architecture is a long-range roadmap ramping beyond 2028, not a near-

term revenue driver.

• Nvidia Rubin NVL576 architecture: NVIDIA’s NVL576 scale-up design clusters 8 Rubin

compute racks into a single domain, fundamentally needing these external CPU switches