JPM APAC Technology - Disco F1Q27 Buy-side Bars request: APAC Technology – Specialist Sales Commentary Hardware - Semiconductors

研报英文原文证据摘录

JPM APAC Technology - Disco F1Q27 Buy-side Bars request: APAC Technology – Specialist Sales Commentary Hardware - Semiconductors

Specialist Sales

APAC Specialist Sales J P M O R G A N

30 June 2026

JPM APAC Technology - Disco F1Q27 Buyside Bars request

Disco F1Q27 (N PT Y83,000) Mio Shikanai link

Preliminary Report Mon Jul 6 16:00 JST / Earnings Conf Call Thurs Jul 23 18:00 JST link

Disco reports their preliminary F1Q27 parent revenues, parent shipments and OP next Mon Jul 6 post- JP close 16:00 JST. Mio’s

early read on F1Q27 buyside consensus range for consolidated sales is roughly Y115-125bn, and Y125-130bn+ may be viewed

positively by the market. We have recently revised up our FY3/28 (CY27) OP estimate towards recent Street consensus to reflect

customers’ upwards revisions to their HBM and packaging capacity outlooks - as Jay has written on Korea memory and Gokul on

ASE and CoWoS. We also continue to focus on expanding opportunities for NAND hybrid bonding and BSPDN (back-side power

delivery network) - William has also written Kinik a beneficiary from increased CMP pad consumable units volumes - in the near

term and PLP (panel level packaging) and HBM hybrid bonding in the longer term. Welcome to participate in our Disco F1Q27

buyside bars survey

Table 1: Disco F1Q27 Sales/Shipments/OP vs JPMe/Cons

J.P. Morgan - APAC Technology & Global Contacts

APAC Market Technology Specialist Sales: Duncan Wagner / duncan.wagner@jpmorgan.com

Sector Specialists:

EU TMT: Scott Silver / scott.silver@jpmorgan.com+44 207 134 0412

US Hardware / Semis: Joshua Meyers / joshua.meyers@jpmorgan.com+1 617 310 0767

US TMT: Mark Schilsky / mark.schilsky@jpmorgan.com +12126222668

Asia Semis / Hardware Research:

Billy Feng (China – Tech) billy.feng@jpmorgan.com (86-21) 6106 6359