# If ASE Technology moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/ase · Facet: ripple · Updated: 2026-07-12T08:20:17.234167+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, ASE Technology is directly linked to 11 companies (9 supply, 2 revenue relationships) and reaches 51 companies within two hops; the links are backed by 15 dated sources, 4 of them primary filings (as of 2026-07-12).

ASE Technology is the World’s largest OSAT (packaging & test). Momentum stayed firm and it is +135.3% in 2026. The supply side (avg +168.4%) has moved harder than the stock (+135.3%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Samsung Electro-Mechanics (+402.2%) and the furthest behind is NVIDIA (+23.7%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It absorbs CoWoS advanced-packaging and test volume that TSMC overflows, serving AI-chip customers such as Nvidia and AMD; advanced-packaging revenue jumped from $0.45B (2024) to $1.1B (2025).

## Demand chain (leading)
- T1 AMD (https://valuechain.wiki/amd.md)
- T2 Microsoft (https://valuechain.wiki/microsoft.md)
- T3 OpenAI (https://valuechain.wiki/openai.md)
- T3 Snowflake (https://valuechain.wiki/snowflake.md)
- T3 ServiceNow (https://valuechain.wiki/servicenow.md)
- T3 Walmart Inc (https://valuechain.wiki/walmart.md)
- T3 Starbucks Corp (https://valuechain.wiki/starbucks.md)
- T3 Costco Wholesale (https://valuechain.wiki/costco.md)
- T3 Johnson Controls (https://valuechain.wiki/johnson-controls.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 Accenture plc (https://valuechain.wiki/accenture.md)
- T3 Stryker Corporation (https://valuechain.wiki/stryker.md)
- T3 Adobe Inc. (https://valuechain.wiki/adobe.md)
- T3 3M Company (https://valuechain.wiki/3m.md)
- T3 Illinois Tool Works Inc. (https://valuechain.wiki/illinois-tool-works.md)
- T3 Boston Scientific Corporation (https://valuechain.wiki/boston-scientific.md)
- T3 Autodesk, Inc. (https://valuechain.wiki/autodesk.md)
- T3 Rockwell Automation, Inc. (https://valuechain.wiki/rockwell-automation.md)
- T3 Take-Two Interactive Software, Inc. (https://valuechain.wiki/take-two-interactive.md)
- T3 Roper Technologies (https://valuechain.wiki/roper-technologies.md)
- T3 Kenvue Inc. (https://valuechain.wiki/kenvue.md)
- T3 Axon Enterprise, Inc. (https://valuechain.wiki/axon-enterprise.md)
- T3 The Kraft Heinz Company (https://valuechain.wiki/kraft-heinz.md)
- T3 Fiserv (https://valuechain.wiki/fiserv.md)
- T3 Otis Worldwide Corporation (https://valuechain.wiki/otis-worldwide.md)
- T3 Cognizant Technology Solutions Corporation (https://valuechain.wiki/cognizant.md)
- T3 Dover Corporation (https://valuechain.wiki/dover.md)
- T3 Veralto Corporation (https://valuechain.wiki/veralto.md)
- T3 Ralph Lauren Corporation (https://valuechain.wiki/ralph-lauren.md)
- T2 Oracle (https://valuechain.wiki/oracle.md)
- T3 Palantir Technologies (https://valuechain.wiki/palantir.md)
- T3 Uber (https://valuechain.wiki/uber.md)
- T3 Marriott International, Inc. (https://valuechain.wiki/marriott-international.md)
- T3 The Sherwin-Williams Company (https://valuechain.wiki/sherwin-williams.md)
- T3 Consolidated Edison, Inc. (https://valuechain.wiki/consolidated-edison.md)
- T2 Hewlett Packard Enterprise (https://valuechain.wiki/hpe.md)
- T2 ASUSTeK Computer (https://valuechain.wiki/asustek.md)
- T2 Meta Platforms (https://valuechain.wiki/meta.md)
- T3 Procter & Gamble (https://valuechain.wiki/procter-gamble.md)
- T3 Omnicom Group Inc. (https://valuechain.wiki/omnicom-group.md)
- T1 NVIDIA (https://valuechain.wiki/nvidia.md)
- T2 Alphabet (Google) (https://valuechain.wiki/alphabet.md)
- T3 Anthropic (https://valuechain.wiki/anthropic.md)
- T3 Planet Labs (https://valuechain.wiki/planet-labs.md)
- T3 McDonald's (https://valuechain.wiki/mcdonalds.md)
- T3 MercadoLibre, Inc. (https://valuechain.wiki/mercadolibre.md)
- T3 Shopify (https://valuechain.wiki/shopify.md)
- T3 LVMH Moet Hennessy Louis Vuitton (https://valuechain.wiki/lvmh.md)
- T3 Recursion Pharmaceuticals (https://valuechain.wiki/recursion.md)
- T3 Intuit Inc. (https://valuechain.wiki/intuit.md)
- T3 Workday, Inc. (https://valuechain.wiki/workday.md)
- T3 Salesforce, Inc. (https://valuechain.wiki/salesforce.md)
- T3 Booking Holdings Inc. (https://valuechain.wiki/booking-holdings.md)
- T3 HCA Healthcare, Inc. (https://valuechain.wiki/hca-healthcare.md)
- T3 DoorDash, Inc. (https://valuechain.wiki/doordash.md)
- T3 AppLovin Corporation (https://valuechain.wiki/applovin.md)
- T3 Cintas Corporation (https://valuechain.wiki/cintas.md)
- T3 Colgate-Palmolive Company (https://valuechain.wiki/colgate-palmolive.md)
- T3 Honeywell Technologies (https://valuechain.wiki/honeywell-technologies.md)
- T3 AutoZone (https://valuechain.wiki/autozone.md)
- T3 eBay Inc. (https://valuechain.wiki/ebay.md)
- T3 Expedia Group, Inc. (https://valuechain.wiki/expedia-group.md)
- T3 Ingersoll Rand Inc. (https://valuechain.wiki/ingersoll-rand.md)
- T2 Amazon (https://valuechain.wiki/amazon.md)
- T3 CrowdStrike (https://valuechain.wiki/crowdstrike.md)
- T3 Datadog (https://valuechain.wiki/datadog.md)
- T3 Schrodinger (https://valuechain.wiki/schrodinger.md)
- T3 Coupang (https://valuechain.wiki/coupang.md)
- T3 Airbnb Inc (https://valuechain.wiki/airbnb.md)
- T3 The Walt Disney Company (https://valuechain.wiki/disney.md)
- T3 Netflix (https://valuechain.wiki/netflix.md)
- T3 Illumina (https://valuechain.wiki/illumina.md)
- T3 Palo Alto Networks (https://valuechain.wiki/palo-alto-networks.md)
- T3 Comcast Corporation (https://valuechain.wiki/comcast.md)
- T3 Abbott Laboratories (https://valuechain.wiki/abbott-laboratories.md)
- T3 Automatic Data Processing, Inc. (https://valuechain.wiki/automatic-data-processing.md)
- T3 Schlumberger (https://valuechain.wiki/schlumberger.md)
- T3 Hilton Worldwide Holdings Inc. (https://valuechain.wiki/hilton-worldwide.md)
- T3 Corteva, Inc. (https://valuechain.wiki/corteva.md)
- T3 Becton, Dickinson and Company (https://valuechain.wiki/becton-dickinson.md)
- T3 Veeva Systems (https://valuechain.wiki/veeva-systems.md)
- T3 Carrier Global Corporation (https://valuechain.wiki/carrier-global.md)
- T3 Live Nation Entertainment, Inc. (https://valuechain.wiki/live-nation-entertainment.md)
- T3 IDEXX Laboratories, Inc. (https://valuechain.wiki/idexx-laboratories.md)
- T3 Waters Corporation (https://valuechain.wiki/waters.md)
- T3 Agilent Technologies, Inc. (https://valuechain.wiki/agilent-technologies.md)
- T3 ResMed Inc. (https://valuechain.wiki/resmed.md)
- T3 GE HealthCare Technologies Inc. (https://valuechain.wiki/ge-healthcare.md)
- T3 Labcorp Holdings Inc. (https://valuechain.wiki/labcorp.md)
- T3 Tapestry, Inc. (https://valuechain.wiki/tapestry.md)
- T3 Verisk Analytics (https://valuechain.wiki/verisk-analytics.md)
- T3 Hubbell Incorporated (https://valuechain.wiki/hubbell-incorporated.md)
- T3 Constellation Brands, Inc. (https://valuechain.wiki/constellation-brands.md)
- T3 Fair Isaac Corporation (https://valuechain.wiki/fair-isaac.md)
- T2 Super Micro (https://valuechain.wiki/super-micro.md)
- T3 CoreWeave (https://valuechain.wiki/coreweave.md)
- T2 IREN (https://valuechain.wiki/iren.md)
- T2 Aurora Innovation (https://valuechain.wiki/aurora.md)
- T2 TeraWulf (https://valuechain.wiki/terawulf.md)
- T2 Pony.ai (https://valuechain.wiki/pony-ai.md)
- T3 Meituan (https://valuechain.wiki/meituan.md)
- T2 Wiwynn (https://valuechain.wiki/wiwynn.md)
- T2 Rigetti Computing (https://valuechain.wiki/rigetti.md)
- T2 Quanta Computer (https://valuechain.wiki/quanta.md)
- T2 Dell Technologies (https://valuechain.wiki/dell.md)
- T2 Lenovo (https://valuechain.wiki/lenovo.md)
- T2 Tesla (https://valuechain.wiki/tesla.md)
- T3 PG&E Corporation (https://valuechain.wiki/pg-e.md)
- T3 Edison International (https://valuechain.wiki/edison-international.md)
- T2 Kratos Defense (https://valuechain.wiki/kratos.md)
- T3 Lockheed Martin (https://valuechain.wiki/lockheed-martin.md)
- T2 Toyota Motor Corporation (https://valuechain.wiki/toyota.md)
- T3 Mazda Motor (https://valuechain.wiki/mazda-motor.md)
- T2 SK Telecom (https://valuechain.wiki/sk-telecom.md)
- T2 General Motors (https://valuechain.wiki/general-motors.md)
- T2 Hyundai Motor Company (https://valuechain.wiki/hyundai-motor-company.md)
- T2 Gigabyte Technology (https://valuechain.wiki/gigabyte.md)
- T3 Nebius Group (https://valuechain.wiki/nebius.md)
- T2 Wistron (https://valuechain.wiki/wistron.md)
- T2 Foxconn (Hon Hai) (https://valuechain.wiki/foxconn.md)
- T3 Apple (https://valuechain.wiki/apple.md)
- T2 Celestica (https://valuechain.wiki/celestica.md)
- T2 Geely Auto (https://valuechain.wiki/geely-auto.md)
- T2 Baidu (https://valuechain.wiki/baidu.md)
- T3 Beijing Kingsoft Office Software (https://valuechain.wiki/beijing-kingsoft-office-software.md)
- T2 IonQ (https://valuechain.wiki/ionq.md)
- T2 Cloudflare (https://valuechain.wiki/cloudflare.md)
- T2 Alibaba Group (https://valuechain.wiki/alibaba.md)
- T2 Mercury Systems (https://valuechain.wiki/mercury-systems.md)
- T3 RTX (https://valuechain.wiki/rtx.md)
- T2 Tempus AI (https://valuechain.wiki/tempus-ai.md)
- T2 Tencent Holdings Limited (https://valuechain.wiki/tencent-holdings-limited.md)
- T2 IBM (https://valuechain.wiki/ibm.md)
- T2 Yum! Brands (https://valuechain.wiki/yum-brands.md)

## Supply chain (benefiting)
- T1 Disco Corporation (https://valuechain.wiki/disco.md)
- T1 Camtek (https://valuechain.wiki/camtek.md)
- T1 Resonac (https://valuechain.wiki/resonac.md)
- T1 Kulicke & Soffa (https://valuechain.wiki/kulicke-soffa.md)
- T1 Cohu (https://valuechain.wiki/cohu.md)
- T1 BESI (https://valuechain.wiki/besi.md)
- T1 Samsung Electro-Mechanics (https://valuechain.wiki/samsung-electro-mechanics.md)
- T2 Ajinomoto (https://valuechain.wiki/ajinomoto.md)
- T2 Samsung Electronics (https://valuechain.wiki/samsung-electronics.md)
- T3 ASMPT (https://valuechain.wiki/asmpt.md)
- T3 Hanmi Semiconductor (https://valuechain.wiki/hanmi-semiconductor.md)
- T3 SFA Semicon (https://valuechain.wiki/sfa-semicon.md)
- T3 ASML (https://valuechain.wiki/asml.md)
- T3 Leeno Industrial (https://valuechain.wiki/leeno.md)
- T3 Daeduck Electronics (https://valuechain.wiki/daeduck.md)
- T3 Uni Test (https://valuechain.wiki/unitest.md)
- T3 Wonik QnC (https://valuechain.wiki/wonik-qnc.md)
- T3 SCREEN Holdings (https://valuechain.wiki/screen-holdings.md)
- T3 Applied Materials (https://valuechain.wiki/applied-materials.md)
- T3 Onto Innovation (https://valuechain.wiki/onto-innovation.md)
- T3 ASM International (https://valuechain.wiki/asm-international.md)
- T3 Lasertec (https://valuechain.wiki/lasertec.md)
- T3 Tokyo Ohka Kogyo (TOK) (https://valuechain.wiki/tokyo-ohka.md)
- T3 MediaTek (https://valuechain.wiki/mediatek.md)
- T3 Wonik IPS (https://valuechain.wiki/wonik-ips.md)
- T3 Foosung (https://valuechain.wiki/foosung.md)
- T3 Shin-Etsu Chemical (https://valuechain.wiki/shin-etsu.md)
- T3 Synopsys (https://valuechain.wiki/synopsys.md)
- T3 JCET (Jiangsu Changjiang Electronics) (https://valuechain.wiki/jcet.md)
- T3 Teradyne (https://valuechain.wiki/teradyne.md)
- T3 Ebara (https://valuechain.wiki/ebara.md)
- T3 Linde (https://valuechain.wiki/linde.md)
- T3 Merck KGaA (EMD) (https://valuechain.wiki/merck-kgaa.md)
- T3 Nepes (https://valuechain.wiki/nepes.md)
- T3 Montage Technology (https://valuechain.wiki/montage.md)
- T3 Entegris (https://valuechain.wiki/entegris.md)
- T3 Cadence Design Systems (https://valuechain.wiki/cadence.md)
- T3 KC Tech (https://valuechain.wiki/kc-tech.md)
- T3 SK Siltron (https://valuechain.wiki/sk-siltron.md)
- T3 GlobalWafers (https://valuechain.wiki/globalwafers.md)
- T3 Siemens EDA (https://valuechain.wiki/siemens-eda.md)
- T3 S&S Tech (https://valuechain.wiki/sns-tech.md)
- T3 Arm Holdings (https://valuechain.wiki/arm.md)
- T3 SUMCO Corporation (https://valuechain.wiki/sumco.md)
- T3 LG Innotek (https://valuechain.wiki/lg-innotek.md)
- T3 ENF Technology (https://valuechain.wiki/enf-technology.md)
- T3 Fujimi Incorporated (https://valuechain.wiki/fujimi.md)
- T3 Dongjin Semichem (https://valuechain.wiki/dongjin-semichem.md)
- T3 Hitachi High-Tech (https://valuechain.wiki/hitachi-hightech.md)
- T3 Soulbrain (https://valuechain.wiki/soulbrain.md)
- T3 Hana Materials (https://valuechain.wiki/hana-materials.md)
- T3 Jusung Engineering (https://valuechain.wiki/jusung-engineering.md)
- T3 PSK Inc (https://valuechain.wiki/psk-inc.md)
- T3 Eugene Technology (https://valuechain.wiki/eugene-tech.md)
- T3 ISC (https://valuechain.wiki/isc.md)
- T3 Lam Research (https://valuechain.wiki/lam-research.md)
- T3 Qnity Electronics (https://valuechain.wiki/qnity-electronics.md)
- T3 Park Systems (https://valuechain.wiki/park-systems.md)
- T3 HPSP (https://valuechain.wiki/hpsp.md)
- T3 Qorvo (https://valuechain.wiki/qorvo.md)
- T3 KLA (https://valuechain.wiki/kla.md)
- T3 JSR Corporation (https://valuechain.wiki/jsr.md)
- T3 Tokyo Electron (TEL) (https://valuechain.wiki/tokyo-electron.md)
- T3 Photronics (https://valuechain.wiki/photronics.md)
- T3 LG Display (https://valuechain.wiki/lg-display.md)
- T3 EO Technics (https://valuechain.wiki/eo-technics.md)
- T3 Hana Micron (https://valuechain.wiki/hana-micron.md)
- T3 Advantest (https://valuechain.wiki/advantest.md)
- T3 Kokusai Electric (https://valuechain.wiki/kokusai-electric.md)
- T3 Powertech Technology (PTI) (https://valuechain.wiki/powertech.md)
- T3 Air Liquide (https://valuechain.wiki/air-liquide.md)
- T3 FormFactor (https://valuechain.wiki/formfactor.md)
- T3 Simmtech (https://valuechain.wiki/simmtech.md)
- T3 Arteris (https://valuechain.wiki/arteris.md)
- T3 Samsung E&A (https://valuechain.wiki/samsung-e-a.md)
- T3 Air Products and Chemicals (https://valuechain.wiki/air-products.md)
- T3 Sumitomo Chemical (https://valuechain.wiki/sumitomo-chemical.md)
- T2 Cosmo Advanced Materials & Technology (https://valuechain.wiki/cosmo-advanced-materials-technology.md)
- T3 Albemarle (https://valuechain.wiki/albemarle.md)
- T3 Sociedad Química y Minera de Chile S.A. (https://valuechain.wiki/sqm.md)
- T3 Mitsubishi Chemical Holdings (https://valuechain.wiki/mitsubishi-chemical-holdings.md)

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Full node: https://valuechain.wiki/ase.md · JSON: https://valuechain.wiki/ase.json