JPMorgan: Samsung Under Short-Term Pressure, TSMC A14 Is Key Catalyst
Source：
www.techflowpost.com
According to TechFlow Research, JPMorgan's July 8 Asia-Pacific Technology Briefing shows that Samsung's 2Q profit of 89.4 trillion KRW hit a record high, but leveraged ETF liquidation and rising volatility are suppressing stock prices in the short term; NAND pricing may exceed expectations with a QoQ +20%, and the direction of the memory cycle remains unchanged. TSMC's A14 process certification is expected to be completed between late 2026 and early 2027, directly benefiting Lasertec; Ebara, TEL, and Screen are gaining share in DRAM equipment. JPMorgan expects WFE growth of 28%/29%/16% for 2026-2028. MLCC is expected to see a shortage in 2027, and Murata's Q1 OP is expected to reach 90 billion JPY. The substrate industry is shifting from BT to ABF, and Unimicron plans to exit half of its BT capacity.
