The post-Huang Jen-Hsun era! Legal persons name beneficiary stocks and victim stocks

[Reporter Zhuo Yijun/Taipei Report] Huida CEO Huang Renxun resigned due to an extramarital affair scandal, which affected the global AI concept stock market outlook. Taishin Investment Consulting issued a latest report analyzing the "post-Huang Renxun era", pointing out that Huida's CEO has changed, Huida's operations are stable in the short term, and there are no major changes in the supply chain structure. However, it may affect its own competitiveness in the long term. Competitors are expected to benefit. However, all competitors are highly dependent on Taiwanese OEMs and components, and orders are only transferred between customers. It is expected that Huida's supply chain will be affected by sentiment in the short term, and pure AMD (Super Micro) and ASIC supply chains are expected to benefit.

Taishin Investment Consulting pointed out that manufacturers that are friendly with Huida, such as CoreWeave, Supermicro, Gigabyte (2376), etc., have a higher risk of order adjustments; in the ASIC supply chain, the mechanical components are basically highly repetitive with Huida, and the pure beneficiaries will mainly be design service manufacturers, such as Creative (3443), Sechi-KY (3661) and MediaTek (2454).

Taishin Investment Consulting analyzed that in the post-Huang Jen-Hsun era, changes in leadership have slowed down the pace of radical R&D, the speed of server specification upgrades has been reduced, and the iteration cycle has been lengthened, resulting in the convergence of specification dividends. The replacement of old and new generations has slowed, the growth of component unit prices has been limited, and there is a lack of sustained technological breakthroughs to support high price-to-earnings ratios. The PE (price-to-earnings ratio) of pure theme dream stocks is facing downward revision pressure.