ASE Technology: AI Is Driving A Great LEAP Forward

Impact · against what's priced in

ASE Technology (ASX) receives a positive catalyst from its role in alleviating the CoWoS packaging bottleneck through TSMC outsourcing. The expected double-digit revenue growth and mid-20% EBITDA margins provide a strong valuation floor, despite the pressure on free cash flow from high capex.

ASX+0.60

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In context

The shift of high-end CoWoS packaging from TSMC to ASE creates a direct catalyst for mid-teens revenue growth and mid-20% EBITDA margins driven by AI/HPC demand.

Read from the article alone

• capex▲6%
• revenue growth
• semiconductors
• ai
• ASX
• TSM
• advanced packaging
• cowos
• hpc
• packaging