Largan Precision surged to an intraday record of NT$7,195 on August 28, breaking above NT$7,000 after closing at its second consecutive limit-up of NT$6,915 the previous day. The rally has been driven by expectations for Apple’s next iPhone cycle and Largan’s potential role in the co-packaged optics (CPO) supply chain, although the company has not disclosed CPO customers or revenue contributions. The move also boosted Taiwan equity ETFs with significant Largan holdings. Capital Technology Innovation ETF (00992A) owns 343,000 Largan shares, the largest position among 12 ETFs with holdings above 3%, and gained 4.24% over the two sessions, the strongest performance among related funds. Overall, 35 of 94 Taiwan equity ETFs hold Largan. Analysts say broader CPO adoption, including expansion from scale-out to scale-up data-center architectures, could increase demand for fiber array units, but the investment case remains subject to confirmation from Largan. ETF gains will also depend on position weightings and the performance of other holdings. Taiwan’s market continues to favor AI, optical communications and high-speed transmission themes, while managers cited more than 20% projected earnings growth for Taiwanese companies in 2026 and order visibility extending to 2027.