Wall Street AI Optimism Gives Taiwan Tech Rally Another Boost
- Hardware makers including Quanta and Wiwynn hit record high
- It’s still early in the paradigm shift for generative AI: Citi
Taiwanese hardware firms supply to some of the world’s biggest tech companies including Google and Apple.
Photographer: Indranil Aditya/BloombergThis article is for subscribers only.
The rally in Taiwan’s technology stocks is likely to continue as earnings at hardware firms are expected to get a boost from booming demand for artificial intelligence servers.
Hardware makers Wistron Corp., its affiliate Wiwynn Corp. and Quanta Computer Inc. jumped to record highs on Monday following recent upgrades by banks including Morgan Stanley and Citigroup Inc. Analysts said these firms will benefit from the rise in AI server adoption by hyper-scalers such as Alphabet Inc.’s Google in the US.