Apr. 28 at 3:36 PM
$TSM The real AI bottleneck isn’t GPUs… it’s CoWoS.
Hearing CoWoS ASP pushing ~
$10K and still fully constrained. That’s the choke point of the entire AI supply chain right now.
TSM can’t keep up → outsourcing ramps aggressively. Street chatter points to ~240K–270K wafers being pushed to OSATs this year.
Follow the money:
$ASX (ASE) + AMKR = primary beneficiaries
Advanced packaging revs are exploding (think ~2x YoY) with pricing power still intact.
And demand isn’t slowing:
$NVDA already locking in massive CoWoS-equivalent capacity for 2026
$GOOGL TPU pipeline also flowing through TSM/Amkor channels
Second derivative trade? Equipment:
$AMAT LRCX + test/inspection names (ONTO, CAMT, TER) all levered to this packaging supercycle.
Shorter lead times, higher attach rates = sustained order momentum into 2027+.
AI trade isn’t crowded… it’s layered. If you’re only watching chips, you’re missing the real bottleneck.
Curious about the full approach?👉 Check the @MeanReverter_
