智通财经APP获悉，麦格理发布研报称，予ASMPT(00522)“跑赢大市”评级，目标价上调5%至140港元。ASMPT管理层将热压焊接(TCB)的总目标市场(TAM)预测大幅上调至2028年达16亿美元，意味着从2025年的7.59亿美元起，复合年增长率为30%，高于此前预测的2027年达10亿美元。更新的总目标市场反映了人工智能逻辑及高频宽记忆体投资的迅速加速。
管理层对20H高频宽记忆体表示乐观，并相信若JEDEC标准持续放宽，热压焊接技术可支援这些堆叠。此外，管理层认为高频宽快闪记忆体是热压焊接一个未被充分开发的重大机遇。该行上调2026年、2027年及2028年预测盈利6%、6%及3%，以计入由人工智能及先进封装驱动的SEMI业务强劲收入增长，部分被SMT业务下行周期所抵销。
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