ab 13 October 2025 Global Research China Semiconductors China's AI development driving upside We reiterate our positive view on Chinese AI-related WFE/OSAT names We raise our 2026-27E earnings and price targets for our covered Chinese wafer fab equipment (WFE) and outsourced assembly and test (OSAT) companies (see Figure 1Figure 1), mainly to factor in China's latest AI ecosystem development, which may drive sustained 28nm and below logic and memory investment (among which, a growing portion of 14nm and bel ...