Taiwanese copper clad laminate maker Iteco surged and then sold off sharply on its first trading day after the lifting of disposition measures — an eventful day for investors chasing the rally, but still good news for long-term holders.

• Iteco's share price at one point pushed to NT$548, a record high since listing, before selling pressure knocked it into negative territory, with a full-day swing of close to 9%.
• The strength behind the rally comes from robust demand from AI servers, high-performance computing and high-speed networking, leaving high-end copper clad laminates in short supply.
• With a higher share of high-end product shipments coinciding with price increases, first-half earnings per share have already exceeded the total for all of last year.
• Foreign investors, investment trusts and proprietary dealers kept buying throughout the disposition period, with foreign investors net buying more than 10,000 lots over eight trading sessions — the main reason the share price held up.

Outlook: As long as demand for AI server board materials does not cool, Iteco's share price is expected to stay strong, though short-term volatility after such a sharp rally will remain severe.