Strong 2027 AI revenue guidance; stay OW

研报英文原文证据摘录

Strong 2027 AI revenue guidance; stay OW

Idea

July 30, 2026 02:34 PM GMT

Morgan Stanley Taiwan Limited+MASE Technology Holding Co. Ltd. | Asia Pacific Charlie Chan

Equity Analyst

Strong 2027 AI revenue Charlie.Chan@morganstanley.comDaniel Yen, CFA +886 2 2730-1725

Daniel.Yen@morganstanley.com +886 2 2730-2863

guidance; stay OW Morgan Stanley Asia Limited+

Daisy Dai, CFA

What’s Changed Equity Analyst

ASE Technology Holding Co. Ltd. (3711.TW) From To Daisy.Dai@morganstanley.com +852 2848-7310

Price Target NT$558.00 NT$628.00

Morgan Stanley Taiwan Limited+

Tiffany Yeh

AlphaSignals Earnings Reaction Tiffany.Yeh@morganstanley.com +886 2 7712-3032

Strengthens our thesis Meaningful upside Meaningful revision higher Lucas Wang

Impact to our thesis Financial results versus consensus Direction of next 12-month Research Associate

consensus EPS Lucas.Wang@morganstanley.com +886 2 2730-2875

Source: Company data, Morgan Stanley Research

Morgan Stanley Asia Limited+

Ethan Jia

Management raised 2027 LEAP revenue guidance to at least US Research Associate

$7.5bn, implying robust AI revenue and demand for advanced Ethan.Jia@morganstanley.com +852 3963-2287

packaging/testing. We raise our price target to NT$628 and

reiterate OW.

2027 LEAP revenue guidance raised from US$5.5bn to at least US$7.5bn; we now

forecast US$8.5bn: On the July 30 earnings call, management said that 2026 LEAP

ASE Technology Holding Co. Ltd. (3711.TW, 3711 TT)

(leading-edge advanced packaging and testing) is tracking ahead and raised guidance

Greater China Technology Semiconductors | Taiwan

from US$3.5bn to US$3.7bn. Management also lifted the 2027 LEAP target from US

Stock Rating Overweight

$5.5bn to at least US$7.5bn, a strong beat vs. both our estimate and the buy-side Industry View Attractive