Delta Electronics (2308 TT): More bumps ahead

CSIWM takes the same view as CLSA Research. According to the CLSA Research report titled "More bumps ahead" dated 30 Oct 2026, Delta's share price has underperformed the Taiex in the past five months dragged by weaker growth in the past two quarters. While CLSA expects it to remain range-bound ahead of greater clarity on HVDC adoption next year, analysis points out that the stock is nearing a short-term bottom as sales are likely to reaccelerate from here. This should support a modest rebound in coming months. The longer-term power upgrade trend also remains intact (likely to pick up from 2H28), so analysis views the recent pullback as an attractive entry point to capitalise on Delta's AI growth.