Limit-Up Frenzy! U.S. Bullish on Wiwynn, Says FX Impact Limited… Reiterates "Overweight" Rating with NT$3,500 Target Price

Wiwynn (6669) recently announced its latest financial results, reporting a record-high Q2 net profit of NT$12.122 billion, a staggering 158.3% YoY increase. Its first-half EPS reached NT$117.93, equivalent to 11 times its par value, while July revenue hit NT$84.529 billion, marking the strongest July performance in history. A U.S. brokerage firm noted that currency fluctuations have minimal impact on Wiwynn, reiterating an "Overweight" rating with a target price of NT$3,500. This optimism drove Wiwynn’s stock to a limit-up close at a historic high of NT$3,175 today.

Financial reports show Wiwynn’s July revenue reached NT$84.529 billion, down 1.49% MoM but up 172% YoY. Cumulative revenue for the first seven months surged to NT$475.928 billion, a 167% YoY increase, both setting new records. The company previously reported a Q2 net profit of NT$12.122 billion, up 23.78% QoQ and 158.3% YoY, with EPS at NT$65.23. For H1 2025, net profit totaled NT$21.916 billion, rising 133.1% YoY, while EPS stood at NT$117.93.

The U.S. brokerage highlighted that strong demand for ASIC servers (Amazon’s T2 racks) fueled Wiwynn’s robust July performance. Despite weakening demand for general-purpose servers, the firm expects continued growth in ASIC and GPU server shipments, projecting AI-related revenue to rise further in H2 2025. It forecasts Q3 revenue at NT$241.8 billion (up 10% QoQ and 147% YoY) with EPS of NT$65.21, maintaining an "Overweight" rating and a NT$3,500 target.

Buoyed by the news, Wiwynn’s stock surged today, opening at NT$3,075 before briefly dipping to NT$3,045. Buyer momentum later pushed shares to a limit-up close at NT$3,175, up NT$285, setting a new all-time high.