China's glass substrate manufacturers catching up rapidly to Korea/Japan/US competitors; once mass production stabilizes, strong likelihood of supply chain shift to China on cost/productivity.
China has ~10+ companies in glass substrate market with near-parity tech in TGV/etching. Investment wave ongoing since 2023-24. Front-runners (INTC, SKC, Samsung EM, LG Innotek, DNP, Unimicron) face risk of Chinese displacement at mass production scale. Big tech (Broadcom, AWS, Samsung) will likely diversify supply chains to China for cost.
https://t.co/3h4JjQBJB2
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | -0.8% | +0.8% |
| 1 week | +8.5% | +6.7% |
| 1 month | +4.3% | +2.3% |
| 3 months | — | — |
| 6 months | — | — |