📢 Taiwan's panel makers are reshaping their strategy. As #Innolux# and #AUO# divest aging factories, they're shifting from scale to high-value technologies such as Micro LED, AI, and CPO.💡More analysis from #TrendForce#: 🔗

Goldman Sachs upgraded Nittobo to Buy in a July 6 report. One key reason was its cautious view on TSMC’s glass core substrate (GCS) progress. I won’t add much commentary here. Just sharing the note. That said, my takeaway is that the other reasons GS cited for the upgrade do not really conflict with a constructive view on GCS over the next several years. One thing to note: based on past patterns, the likelihood of TSMC providing major updates on GCS/CoPoS at its upcoming July earnings call may be low. This is especially true since TSMC just shared key R&D results at a Japan symposium in June, where it also made a rare mention of supplier partners. If that read is right, the likelihood of major GCS updates at Innolux’s and Ibiden’s August earnings calls may also be low.