Apr. 29 at 9:03 PM
$UMC Some people may notice, sometimes I look for corps on the verge of a structural re-rating where the biz model is evolving far faster than the market’s perception. I saw this with
$JBL when I bought it around
$100 before its run into the 333 as it shifted from a simple assembler to a high value infrastructure partner. I saw it again with
$INTC when I wrote about it at
$19 last March, catching the transition from a declining incumbent to a strategic foundry powerhouse.
I applied that same logic to
$ATEN when I covered it at
$17.18 in December it has since jumped
$27 range as it moved from legacy networking to providing the essential AI security guardrails hyperscalers now require. UMC is the next chapter in this playbook imo. While the market dismissed it as a commodity foundry, it is transforming into a specialty infrastructure enabler. By leveraging INTC’s capacity for 12nm and co-developing silicon photonics with Jabil, they are signaling to the market great changes are a comin
