APAC Technology Taiwan Tech May Sales: Q2 tracking ahead on robust supply chain momentum

研报英文原文证据摘录

APAC Technology Taiwan Tech May Sales: Q2 tracking ahead on robust supply chain momentum

Global Research

15 June 2026ab

APAC Technology Equities

GlobalTaiwan Tech May Sales: Q2 tracking ahead on

robust supply chain momentum Technology

Randy Abrams

Analyst

randy.abrams@ubs.com

May sales tracking ahead across the tech sector to reverse April's MoM decline +886-2-8722 7338

We summarize May monthly sales across 171 Taiwan tech companies and 55 covered Nicolas Gaudois

companies against our/street expectations. Overall, May sales is tracking ahead at Analyst

68%/69% QTD of UBS/street expectations with most sectors including 30 companies nicolas.gaudois@ubs.com

tracking ahead of consensus, 9 in-line, and 16 behind. The AI supply chain demand +65-6495 5148

remains strong with focus more on supply factors including component shortages, cost Timothy Arcuri

inflation, data center deployment bottlenecks and upcoming platform transitions. Analyst

Relative to seasonal, May sales within UBS coverage was slightly below due to high base timothy.arcuri@ubs.com

in April at flat MoM vs. +3% MoM 5y average with semis sales outpacing at +2% MoM/ +1-415-352 5676

+31% YoY vs. hardware sales flat MoM/+38% YoY. Sunny Lin

Hardware: Server outlook still robust despite slight delays in next-gen ramps sunny.lin@ubs.com

The UBS Taiwan hardware coverage saw May sales flattish MoM but up +38% YoY to NT +886-2-8722 7346

$2,130bn and tracking 69% of Q226 estimates, supporting +43% YoY bottom’s up Jerry Su

earnings growth for our Taiwan market coverage. Servers were strong across GPU racks, Analyst

AI ASICs (TPU) and general servers driving the strongest beats across ODMs/brands Hon jerry.su@ubs.com

Hai, Quanta, Wistron, Inventec and Gigabyte. For NVIDIA racks, we lifted our forecast +886-28-722 7306