AI Boom: Stock Price Movements with High Correlation

The AI boom has undoubtedly brought benefits to many companies across various sectors, not just the technology sector. Interestingly, some Malaysian tech companies have directly benefited from big tech companies, resulting in stock price movements that closely correlate with these giants.

The first notable company is [%ombh%], the largest tech company listed on Bursa Malaysia. Inari, an Outsourced Semiconductor Assembly and Test (OSAT) company based in Penang, derives over 90% of its revenue from a single customer: Broadcom. Broadcom develops 5G radio frequency components for Apple, making Apple a key indirect customer for Inari. Consequently, iPhone sales directly impact Inari's revenue.

The second company is [%bkEO%]. Frontken specializes in cleaning and surface treatment services for foundries, using advanced technology to handle extremely small wafers. Most importantly, TSMC is one of their key customers. TSMC's success amid the AI boom benefits Frontken as well. Recent quarterly results announced by TSMC have also positively influenced Frontken's share price.

AI Boom: Stock Price Movements with High Correlation

The AI boom has undoubtedly brought benefits to many companies across various sectors, not just the technology sector. Interestingly, some Malaysian tech companies have directly benefited from big tech companies, resulting in stock price movements that closely correlate with these giants.

The first notable company is $KLSE-INARI, the largest tech company listed on Bursa Malaysia. Inari, an Outsourced Semiconductor Assembly and Test (OSAT) company based in Penang, derives over 90% of its revenue from a single customer: Broadcom. Broadcom develops 5G radio frequency components for Apple, making Apple a key indirect customer for Inari. Consequently, iPhone sales directly impact Inari's revenue.

The second company is $KLSE-FRONTKN. Frontken specializes in cleaning and surface treatment services for foundries, using advanced technology to handle extremely small wafers. Most importantly, TSMC is one of their key customers. TSMC's success amid the AI boom benefits Frontken as well. Recent quarterly results announced by TSMC have also positively influenced Frontken's share price.

$FRONTKN / 0128 (FRONTKEN CORPORATION BERHAD)