Accessible version Technology - Asia-Pacific Semis/hardware materials: raise EMC/ TUC/MPI POs on Google ASIC benefits Price Objective Change Rising TPU demand favors supply chain in different ways Considering likely rising demand for TPU into 2026/27, we (see report) upgrade GUC and WT Micro to Buy. On the semiconductor/hardware materials side, we also flag EMC, TUC, and MPI as the key beneficiaries within Google's in-house ASIC supply chain, and we reiterate Buy on these three names due to further expanded ...