Mature & specialty foundry (Taiwan)
United Microelectronics (UMC)
A Taiwanese mature/specialty-node foundry (28/22/40/55nm). FY2025 revenue about $7.6B (+5%). Fabricates communications, display and automotive chips for fabless customers such as Qualcomm, MediaTek, Broadcom and TI, and co-develops a 12nm process with Intel. Depends on ASML, Applied Materials, Lam and KLA for equipment.
UMC Updated Jul 12, 2026 3 AI consumers· 2 recurring
Per the valuechain.wiki graph, United Microelectronics (UMC) is directly linked to 13 companies (8 supply, 5 revenue relationships) and reaches 28 companies within two hops; the links are backed by 15 dated sources, 3 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2025 revenue about $7.6B (+5%)
- Customer concentration · Mature/specialty nodes. Customers Qualcomm, MediaTek, Broadcom, TI, Realtek. 12nm co-development with Intel.
- Segments · Foundry · Specialty
Revenue from
- other fabless (Realtek · Novatek et al.) High confidence· Revenue ~$7.6B · FY2025 · annual total revenue (approx)
A flagship customer group for mature-node-focused UMC (28/40/65nm) — Taiwan fabless firms like Realtek and Novatek outsource high-volume Ethernet/audio/display-driver chips. UMC's decision to avoid the leading-edge race makes it a stable supply source for these commodity chips.Confirms EN CT Semiconductor Published Sep 1, 2025: UMC, Taiwan's #2 foundry (customers include Realtek) - MediaTek High confidence
Mature-node (22/28nm) foundry for mediatek.Confirms EN Tom's Hardware Published Jun 15, 2025: UMC mature-node roadmap and major customers (TI, MediaTek, Qualcomm) - Qualcomm Medium confidence
Mature-node (22/28nm) foundry for qualcomm.Confirms EN Tom's Hardware Published Jun 15, 2025: UMC mature-node roadmap and major customers (TI, MediaTek, Qualcomm) - Texas Instruments Medium confidence
Mature-node (22/28nm) foundry for texas-instruments.Confirms EN Tom's Hardware Published Jun 15, 2025: UMC mature-node roadmap and major customers (TI, MediaTek, Qualcomm) - Broadcom Medium confidence
Fabricates some of Broadcom’s communications/specialty chips on mature nodes.Confirms EN Tom's Hardware Published Jun 15, 2025: UMC mature-node roadmap and major customers (TI, MediaTek, Qualcomm)
Pays to
- GlobalWafers High confidence
Uses/buys 300mm silicon wafers from GlobalWafers. - Siemens EDA Medium confidence
Pays for Siemens EDA (Calibre etc.) licenses. - ASML Medium confidence
Buys lithography from ASML. - KLA Medium confidence
Buys inspection/metrology tools from KLA. - Applied Materials Medium confidence
Buys wafer-fab tools from Applied Materials. - Lam Research Medium confidence
Buys etch/deposition tools from Lam Research. - Synopsys Medium confidence
Pays for synopsys EDA tools and IP licenses. - Cadence Design Systems Medium confidence
Pays for cadence EDA tools and IP licenses. - wafers · materials (undisclosed) Low confidence
Buys silicon wafers and process materials (suppliers undisclosed).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| LG Electronics | lead2 | -16.2 | -20.9 | -5.8 | -9.5 | +19.2 | +85.5 |
| Samsung Electronics | lead2 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +77.9 |
| Kyocera | lead2 | +7.5 | -2.1 | +33.8 | -24 | +46.7 | +63 |
| Apple | lead2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +16.2 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Xiaomi | lead2 | -43.9 | -21.1 | -4.6 | +209.7 | -6.9 | -27.2 |
| MediaTek | lead1 | +27.8 | -26.6 | +52.9 | +58.3 | +24.9 | +124.3 |
| Texas Instruments | lead1 | +17.5 | -9.9 | +6.4 | +13.1 | -4.5 | +81.6 |
| Realtek | lead1 | +19.6 | -33.8 | +56.2 | +19.1 | -6.4 | +73.7 |
| Qualcomm | lead1 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +11.7 |
| United Microelectronics (UMC) | node | +43.2 | -40.3 | +39.2 | -19 | +28.8 | +215.1 |
| GlobalWafers | benef1 | +26.9 | -29.9 | +14.3 | -39 | +48.9 | +171.6 |
| Applied Materials | benef1 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +135 |
| Lam Research | benef1 | +53.7 | -40.7 | +88.6 | -6.8 | +139.2 | +105 |
| KLA | benef1 | +68 | -11.2 | +56 | +9.4 | +94.5 | +91 |
| ASML | benef1 | +64.1 | -30.5 | +39.9 | -7.7 | +55.8 | +68.6 |
| Cadence Design Systems | benef1 | +36.6 | -13.8 | +69.6 | +10.3 | +4 | +22.9 |
| Synopsys | benef1 | +42.1 | -13.4 | +61.3 | -5.7 | -3.2 | -5.2 |
| Ichor Holdings | benef2 | +52.7 | -41.7 | +25.4 | -4.2 | -42.8 | +444.2 |
| MKS Instruments | benef2 | +16.4 | -51 | +22.6 | +2.2 | +54.4 | +131 |
| Advanced Energy Industries | benef2 | -5.7 | -5.4 | +27.5 | +6.6 | +81.6 | +47.2 |
| SMC Corporation | benef2 | +0.9 | +4.5 | +28.6 | -28 | +4.2 | +26.6 |
| Wonik QnC | benef2 | +26.2 | +2 | +11.9 | -33.7 | +53.4 | +9.3 |
| Siemens AG | benef2 | +12.2 | +5.1 | +20.1 | +28 | +26.4 | +8.7 |
| TCK (Tokai Carbon Korea) | benef2 | -10.1 | -16.9 | +2.8 | -28.7 | +225.7 | -2.5 |
YTD as of 2026-07-10 · source: Yahoo Finance
United Microelectronics (UMC) operates across Mature & specialty foundry (Taiwan). It is up +221.8% in 2026. The stock (+221.8%) is ahead of both its demand side (avg +58.2%) and supply side (avg +124.3%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is GlobalWafers (+171.6%) and the furthest behind is Qualcomm (+12.4%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Depends on ASML, Applied Materials, Lam and KLA for equipment.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 2 · Hold 1 · Sell 0 · Avg. target NT$178
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| HSBC | 買進 (Buy) | NT$235 | Jun 24, 2026 | Report ↗ |
| UBS | 買進 (Buy) | NT$230 | Jun 24, 2026 | Report ↗ |
| Morgan Stanley · Charlie Chan | Hold | NT$68 | Apr 20, 2026 | Report ↗ |
Mature-node upcycle hopes turned HSBC and UBS to Buy (TWD 230-235) by June 2026, with Morgan Stanley upgrading to Equal-weight in April; sentiment improving fast.