Taiwan's stock market has seen the strongest first-half earnings season in its history, with profits surging across the memory and AI server sectors—great news for investors.

• Driven by the AI infrastructure boom and the memory super-cycle, four companies earned more than ten times their capital in just six months, equivalent to more than NT$100 in earnings per share in half a year.
• The memory sector performed most impressively, with Phison, Innodisk, ADATA, and TeamGroup all posting large profits as major manufacturers cut production and NAND and DRAM prices rebounded strongly. Low-cost inventory also brought substantial inventory valuation recovery gains.
• Phison's second-quarter earnings per share soared to NT$118, setting a new single-quarter record in Taiwan's stock market history, and its first-half profit alone exceeded the combined total of the past six years.
• The AI server sector also shone, with Wiwynn, King Slide, and Aspeed all benefiting from cloud giants' ramped-up orders and high-end specification upgrades, keeping gross margins at elevated levels.

Outlook: As long as AI demand and the memory price-hike cycle continue, these companies' profits are likely to keep climbing in the second half of the year.