亚洲考察要点-人工智能带来上行空间，尤其是定制化 ASIC；个人电脑与智能手机市场稳定_ Asia Trip Takeaways_ AI Upside, Particularly for Custom ASICs; PCs and Smartphones Stable

Equity Research 14 November 2025 IT Hardware and Communications Equipment Asia Trip Takeaways: AI Upside, Particularly for Custom ASICs; PCs and Smartphones Stable We spent a few days in Taiwan meeting with companies across the supply chain for Servers, Networking, PC, and Smartphones. The most positive takes were on custom ASICs, which impacts several of our names in the EMS space where we recommend CLS, JBL, and FLEX. We met with a number of companies during our two days in Taiwan. Overall, the takes for ...