CGSI says Nasdaq hit a record high on AI momentum, sees SET holding 1,600, recommends DELTA and PR9

Yuanta Securities views Lam Research Corporation, or DR LRCX19, as one of the beneficiaries of rising demand for NAND flash memory, especially as AI usage expands from model training toward broader real-world deployment. Lam Research derives a relatively large share of revenue from equipment used to produce NAND, while revenue from equipment for DRAM memory chips is also supported by growing demand for advanced chips, namely the stacking of DRAM into HBM, a technology in which Lam Research already has expertise. In the short term, improving US-China relations could also be a supporting factor for the company, since it generates a high proportion of revenue from China and had previously been restricted from selling certain types of equipment to Chinese customers. The meeting between Trump and Xi Jinping could fuel short-term speculative interest. For the earnings outlook for fiscal year 2027, which ends in June 2027, the Bloomberg Consensus expects normalized profit to still grow strongly at 62% year on year, while the current price trades at a PER of 32 times for FY2027. It gives a target price of 4.80 baht per DR, implying 24% upside.

Shares of SanDisk Corp, or SNDK, rose $82.86, or 4.69%, to $1,849.50 after Rosenblatt initiated coverage with a buy rating and a price target of $2,400, noting that SanDisk today is not the same SanDisk investors are familiar with, because the industry's demand structure has shifted with the growth of AI, elevating the role of NAND memory from a storage commodity to a system-critical component for AI infrastructure. At the same time, SanDisk has just been added to the S&P 100 index, another factor supporting the positive view. During the session the stock opened at $1,757.505, hit a high of $1,909.48 and a low of $1,756.82, with trading volume of about 7.2 million shares, worth roughly $13.34 billion. The positive momentum also carried over to depositary receipts, or DRs, referencing SNDK shares and trading on the Thai stock market, with all three DRs rising in the same direction as of 10:00 a.m. Thailand time. Leading the way was SNDK03, issued by Pi Securities Public Company Limited, which rose to 15.70 baht, up 1.00 baht, or 6.80%, with trading value of 17.66 million baht. SNDK23, issued by InnovestX Securities Company Limited, rose to 7.80 baht, up 0.50 baht, or 6.85%, with trading value of 87.08 million baht. And SNDK80, issued by Krung Thai Bank Public Company Limited, rose to 6.20 baht, up 0.40 baht, or 6.90%, with trading value of 74.32 million baht.

Phillip Securities (Thailand) has issued an "outperform" rating on the electronics sector, selecting DELTA as its Top Pick for the third quarter of 2026, citing its share price lagging the sector and its strongest exposure to the AI theme. KCE and HANA stand to benefit from higher PCB selling prices and their expansion into High Density PCBA and Power Management. First-half sector profit came in at 16 billion baht, up 46.2% year on year, with growth spread across nearly every company, and the bulk of the profit came from DELTA, which benefited from greater recognition of revenue tied to AI and data centers than a year earlier. Other companies showed a picture of revenue recovering more strongly in the second quarter of 2026. For the third-quarter 2026 outlook, DELTA's profit is expected to rise quarter on quarter on higher AI product shipments, helped by a low base in the second quarter of 2026. In the U.S. stock market, investors are watching the CPU stock theme after GPT-6 Astra shifted fully into Agentic AI competition, forcing the CPU-to-GPU ratio up to 1:1, which supports the appeal of INTC and AMD. Cybersecurity names such as CRWD and PANW are also looking more attractive amid the push to enforce rules governing AI usage.