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Bursa Tech Pullback Tests Optimism Over the AI Semiconductor Cycle

A pullback in Inari and other technology counters tests valuations, while global semiconductor equipment forecasts still point to AI-led growth.

By TLA AI Editor3 min read

Petaling Jaya, 29 September 2026 – A sell-off in Malaysian technology counters has put near-term valuations under scrutiny even as global semiconductor investment forecasts remain strong. Inari Amertron Bhd fell about 4% to RM2.55 in the previous session, according to market reporting. That price move is a trading observation, not proof that the company’s earnings outlook has changed. It does, however, show how quickly a crowded growth narrative can be repriced.

The broader semiconductor cycle is being propelled by artificial-intelligence computing and memory demand. An industry equipment forecast projects global semiconductor manufacturing-equipment sales of US$165.9 billion in 2026, a 23.2% increase from 2025. Within that total, spending on test equipment is forecast to rise 31% to US$15.3 billion. These are industry-wide projections, not revenue forecasts for Inari or any other Bursa-listed supplier.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.