Agentic AI Fuels Substrate Price Hikes as Brokerages Raise Nan Ya PCB Target to NT$1,444

The expansion of agentic AI applications is reviving demand for both general-purpose and AI servers, tightening supplies of high-end ABF substrates and mature BT substrates. Nan Ya Printed Circuit Board has operations in both categories. As its capacity utilization rises, the company is gaining greater pricing power and ability to pass on costs, making it a key beneficiary of the supply chain’s price-hike cycle.

As of July 20, 2026, reports said Nan Ya PCB’s ABF and BT substrate capacity was close to fully utilized. Three foreign brokerages all rated the stock a buy, with the highest target price sharply raised to NT$1,444. However, the material provided did not identify the three institutions, their previous targets or the dates of their reports. The figures therefore remain subject to confirmation in the formal research reports.