ABF 基板 - 将欣兴电子（Unimicron）和南亚 PCB（NYPCB）评级上调至超配-Global Technology -ABF Substrates – Upgrading Unimicron and NYPCB to OW

February 22, 2026 09:00 PM GMT Global Technology ABF Substrates – Upgrading Unimicron and NYPCB to OW An AI-driven ABF substrate up-cycle will last to the end of the decade, driving growth to accelerate and margins to expand. The stocks have started to move, but this cycle will be much stronger and more sustainable – fueling multiple expansion. Key Takeaways Based on the fundamental backdrop above, these are the stock implications – it's not too late. We upgrade Unimicron to OW (from EW) and NYPCB to OW (fr ...