#Gate上线台股交易 For long-term AI potential, I favor TSMC most, followed by MediaTek, with Hon Hai in third place. The three companies are positioned at the manufacturing foundation, chip design, and system assembly stages, respectively.
TSMC Highest certainty
AI chips are increasingly concentrated in advanced process nodes and advanced packaging, giving TSMC pricing power and control over capacity allocation. Revenue grew 50.9% year over year in the third quarter of 2026, and its full-year USD revenue growth guidance was raised to around 44%; capital expenditure is expected to reach $60 billion to $64 billion.
Its advantage is its broad customer base, with performance not dependent on a single product. The main risks are overseas fab costs, pressure from ramping up advanced nodes, and the drag that continued high capital expenditure could have on margins.
MediaTek Greatest upside
MediaTek is shifting from smartphone chips to custom data center chips. Its first AI ASIC began shipping in small volumes in September 2026, with a fourth-quarter revenue target of $2.5 billion; management's target for 2027 is around $16 billion. This business is growing rapidly, but the payoff will come later. Yield on the first product, delivery pace, and the second customer's progress toward mass production will all have a significant impact on its valuation.
Hon Hai Strongest orders
Hon Hai's strength lies in AI server racks and system-level manufacturing. Net profit grew 35% year over year in the second quarter of 2026, and full-year AI server rack shipments are expected to double; management says capacity for the next year and a half is already largely booked. Its weak points are low operating margins and greater dependence on cloud service providers' capital expenditure. Even when demand is booming, the market pays closer attention to whether it can turn revenue growth into profit growth.
Assessment and approach
· Long-term core holding: TSMC. The more widespread AI infrastructure becomes, the more easily it can secure a stable share.
· Growth allocation: MediaTek, worth tracking for actual AI ASIC shipments and improving margins.
· Industry validation: Hon Hai. Order visibility is high, but it is better suited as an indicator to watch on the manufacturing side.
At this stage, I view TSMC as “the infrastructure of the AI wave,” MediaTek as “a high-growth variable,” and Hon Hai as “a demand validator.”$TSM

#美国中期选举今日投票 #每周来晒 Three Scenarios for the U.S. Midterms: Where Are Stocks, Crypto, and AI Headed?
As the U.S. congressional elections approach, markets have already priced in three scenarios. The key divide is how strict regulation will be, directly affecting crypto assets and U.S. tech stocks, especially the AI sector. The policy scope varies greatly depending on which party controls each chamber, and investors are already preparing different trading strategies.
Scenario 1: Republicans win control of both the House and Senate. This is the most favorable scenario in the market’s eyes. Republicans generally favor clear legislation for the crypto industry and are less inclined to pursue an aggressive SEC crackdown, which would benefit Bitcoin and other crypto assets. They are also less likely to investigate AI and big tech companies or quickly introduce new rules restricting compute expansion and data center construction.
Under this scenario, crypto and U.S. stocks would rise in tandem, with sentiment strongest in AI and compute-related stocks. The crypto regulatory legislation and stablecoin framework the industry is hoping for would be more likely to advance, reducing long-term uncertainty. Investors would be more willing to take risks on tech and crypto, with trading driven by a “lighter-regulation premium.”
Scenario 2: Republicans hold the Senate but lose the House—in other words, a divided Congress. With Republicans in control of the Senate, crypto-related legislation could still advance, so crypto assets would remain relatively strong. But with the House controlled by the opposing party, the two chambers would check each other, making it difficult to enact a unified policy agenda. This would lead to divergent performance in the stock market, with no broad directional trend and stocks moving both up and down. The AI sector would remain under pressure from House investigations and hearings, with occasional negative regulatory surprises.
In this political landscape, major trend moves would be hard to come by. Opportunities would be more sector-specific, with gains concentrated in crypto while the broader tech market would mainly trade sideways.
Scenario 3: Republicans lose control of both chambers. This is the scenario the market is most wary of. If Democrats take control of both the House and Senate, strict crypto regulations and restrictive bills would quickly come to the fore, and the crypto market would likely face a sell-off. The AI sector would be hit hardest. Democrats would significantly step up scrutiny of large language model safety, compute energy consumption, big tech monopolies, and data privacy, with targeted investigations and restrictive bills concerning data centers and AI companies likely to follow. AI is the main driver of the current U.S. stock market rally, and pressure on that driver could easily drag tech stocks down across the board. The market fears that the pace of high-investment compute expansion could be forced to slow, leading to valuation cuts.
At its core, this round of trading is about shifting regulatory expectations, not economic fundamentals. The crypto industry has faced years of SEC lawsuits and enforcement crackdowns, and the market sees Republicans as an important force for regulatory relief. The AI sector, meanwhile, fears Congress will pass strict laws restricting compute investment and the commercialization of models.
But expectations should also be distinguished from what is actually enacted.
Election results are only the starting point. The path from a bill’s proposal to a vote and eventual enactment is long, with extensive bargaining and compromise along the way. Even if Republicans win both chambers, crypto bills may not have a clear path to passage; even if Democrats control Congress, there is a significant chance that extremely strict AI legislation will be blocked. In the short term, markets are driven by sentiment and positioning; over the medium and long term, earnings, compute demand, and the pace of real-world industry adoption still matter.
Three scenarios, three different sets of prices. Investors are betting on how strict regulation will be, but short-term election speculation shouldn’t be mistaken for a long-term investment thesis. Once expectations are priced in, a “buy the rumor, sell the news” reversal can easily follow.