Goldman Sachs Raises MediaTek Price Target to NT$6,800 on AI ASIC Earnings Outlook

Chip designer MediaTek built its market position on mobile processor technology, but the global AI boom has drawn intense attention to its push into custom AI chips, or ASICs. The business is both a potential new growth engine for the semiconductor industry and a key test of MediaTek’s ability to transform its operations and reshape its earnings mix. Its latest revenue figures and assessments from foreign brokerages have therefore become important indicators for the technology and financial sectors.

MediaTek said in July 2026 that June revenue reached NT$58.012 billion, lifting cumulative second-quarter revenue to NT$152.182 billion and exceeding its earlier guidance. Goldman Sachs subsequently issued a report predicting that strong momentum in MediaTek’s custom AI chip business would substantially boost future earnings. The brokerage raised its price target for the company, reflecting an optimistic outlook for its future operating momentum.

MediaTek has traditionally relied on smartphone chips for most of its revenue, leaving growth and profitability vulnerable when market demand weakens. AI ASICs are custom chips designed for specific artificial-intelligence workloads. Goldman Sachs believes the business could become a major engine for MediaTek to diversify away from smartphone-market risks and expand its long-term earnings.

In its latest research report, Goldman Sachs said it expects strong growth in MediaTek’s AI ASIC business and forecast that the segment’s share of revenue will rise to 39% by 2027. Despite continued near-term pressure from the weak smartphone market, the bank sharply raised its MediaTek price target to NT$2,454, citing the AI business’s long-term earnings potential.

ASPEED Technology is a leading global supplier of baseboard management controller chips, which are used to monitor and maintain data-center servers remotely. Agentic AI is driving expansion in CPU-based servers, while AI ASICs are increasing demand for custom computing. The size of the BMC market and the penetration of high-end products are therefore central to ASPEED’s medium- and long-term growth.

Goldman Sachs reiterated its “Buy” rating on ASPEED on April 21, 2026, and raised its 12-month price target to NT$20,000, citing expectations that earnings upgrades would gather pace from 2026 through 2028. On May 6, it raised the target again to NT$22,000 after first-quarter results beat expectations and the BMC market expanded.