Glonghui, Feb. 19 | J.P. Morgan Chase released a research report saying that maintaining the ASMPT “plus” rating, ASMPT is likely to supply hybrid bonding devices to TSMC. It is expected to recognize ASMPT's advanced packaging platform technology, continue to be optimistic about ASMPT's development prospects, and raise the target price to HK$100. The company will release financial results for the fourth quarter of 2023. It is expected that management will mention that spending on packaging equipment will enter a cyclical upward trajectory, while also expecting a breakthrough in the field of hybrid bonding (Hybrid Bonding). The report mentioned that ASMPT's overall potential market for thermocompression welding (TCB) may expand, mainly due to increased control capabilities of wafer foundries and outsourced semiconductor packaging and testing vendors (OSAT). According to Motong, the market has a positive view of the OSAT ecosystem. It is expected that some companies will experience a cyclical recovery and a recovery in capital expenditure. At the same time, the market generally expects a healthy rebound in spending in the packaging sector.