Goldman Sachs anticipates the supply-demand gap for high-end Copper Clad Laminate (CCL) will persist through 2028, driven by continuous upgrades in AI server platforms and rapid CCL demand growth. A second wave of price increases, estimated at 15%, is expected in the second half of this year for high-end CCL. Domestic institutions maintain positive ratings for the CCL sector, recommending stocks like Taiwan Light Electric (2383), Tai Yao (6274), Lianmao (6213), and Tenghui Electronics-KY (6672).
Critical high-end CCL supply for AI servers and networking is tightening further, increasing component costs for hyperscalers and system integrators through 2028.