Maybank Kim Eng’s Lai Gene Lih has maintained his “positive” rating on the semiconductor industry, saying, “recent news continue to reinforce our view that the current momentum
for our Singapore semicon equipment coverage is positive”.

He notes that Applied Materials (AMAT) reiterated its position as an enabler of important semiconductor technological inflections that drives an AI economy. Additionally, Taiwan Semiconductor Company (TSMC) also announced US$100 billion ($134 billion) of capex and R&D budget over 3 years. 

As such, Lai feels like these are favourable read-across to suppliers like UMS/ Frencken.

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