The Case for Asian Tech Stocks in 2026: Outperforming Global Peers Amid AI and Semiconductor Growth

The global tech landscape in 2026 is being reshaped by the explosive demand for artificial intelligence (AI) and advanced semiconductor manufacturing. As AI applications proliferate across industries-from healthcare to cloud computing-companies positioned to capitalize on these trends are seeing unprecedented growth. Asian tech stocks, particularly in the biotech and semiconductor sectors, are emerging as compelling investment opportunities, outpacing their Nasdaq counterparts in both earnings momentum and strategic positioning. This analysis examines three standout performers: CARsgen Therapeutics, Shenzhen Newway, and Gan & Lee Pharmaceuticals, and evaluates their potential to deliver outsized returns in 2026.

Strategic Sector Positioning: AI and Semiconductor Synergies

The semiconductor industry is at the heart of the AI revolution, with demand for high-performance chips surging as generative AI models and edge computing gain traction. According to a report by , the global semiconductor market is projected to grow by 26.3% in 2026, reaching $975.4 billion, driven by AI's insatiable appetite for advanced manufacturing nodes. This creates a tailwind for companies like Shenzhen Newway, which is leveraging its geographic and industrial advantages to scale production.

Shenzhen, a key hub for China's tech ecosystem, aims to double its semiconductor output by 2025, targeting 250 billion yuan in annual sales-a leap from 110 billion yuan in 2024. The city's strategy includes cultivating local wafer fabrication capabilities, a critical gap it has historically faced. A new wafer fabrication plant by Semiconductor Manufacturing International Corp (SMIC) in Shenzhen underscores this ambition. For Shenzhen Newway, this infrastructure development aligns with its 2026 growth strategy, enabling it to capitalize on the global shift toward localized chip production.

Meanwhile, CARsgen Therapeutics is leveraging AI-driven advancements in biotechnology. The company's zevor-cel, an autologous CAR T-cell therapy for multiple myeloma, has demonstrated strong cost efficiency through self-manufacturing of plasmids and vectors. This vertical integration reduces reliance on external suppliers, a strategic advantage in an industry where supply chain disruptions are common. CARsgen's pipeline also includes satri-cel for gastric cancer and allogeneic CAR-T candidates like CT0596 and KJ-C2219, all of which are in advanced clinical stages. These innovations position the company to benefit from the AI-enabled precision medicine trend, where data analytics and machine learning optimize drug development and patient outcomes.

Earnings Momentum: Outperforming Regional and Global Peers

Asian tech stocks are not only strategically positioned but also delivering robust financial results. Gan & Lee Pharmaceuticals, for instance, reported a 35.8% year-over-year revenue increase and a 61.3% surge in earnings in 2025. This outperformance is driven by its diabetes treatment portfolio, including the licensing agreement for Bofanglutide, a fortnightly GLP-1 receptor agonist. Such innovations align with the global shift toward AI-driven drug discovery, where predictive analytics accelerate the development of novel therapeutics.

CARsgen Therapeutics also showed strong earnings momentum, with H1 2025 revenue of RMB51 million and a gross profit of RMB29 million. While its cash reserves declined from RMB1,479 million to RMB1,261 million due to R&D and capital expenditures, the company's focus on commercialization-evidenced by 111 confirmed orders for zevor-cel and regulatory filings in 20 provinces- signals a path to sustainable growth.

Shenzhen Newway reported a 30.4% annual revenue increase and a 49.6% earnings rise in 2025. Its P/E ratio of 52.35 (TTM) is higher than the industry average of 42.26, but this premium reflects investor confidence in its long-term growth potential. By comparison, U.S. semiconductor stocks like TSMC trade at 30x earnings, while the Nasdaq-100's earnings multiple is 32x. Shenzhen Newway's valuation appears justified given its alignment with the AI-driven semiconductor boom.

Valuation Metrics: Asian Tech Stocks vs. Nasdaq

The valuation gap between Asian tech stocks and Nasdaq peers is striking. CARsgen Therapeutics trades at a trailing P/E of 1.68, a discount to its earnings growth of 118.16%. This low multiple reflects its early-stage commercialization phase but also highlights its potential for re-rating as zevor-cel scales. In contrast, Nasdaq tech stocks like Praxis Precision Medicines (PRAX) and Protagonist Therapeutics (PTGX) show mixed valuations, with PRAX lacking earnings and PTGX trading at a forward P/E of 290.6.

Gan & Lee Pharmaceuticals has a P/E of 20.7x in 2025, significantly lower than the Chinese tech sector's average of 75.1x. This suggests the market is pricing in its earnings growth conservatively, despite its 61.3% net income surge. Meanwhile, the U.S. semiconductor industry's P/E of 38x and P/S of 14.3x indicates a more mature sector, where revenue growth is valued higher than earnings.

Conclusion: A Compelling Case for Asian Tech in 2026

The confluence of AI-driven demand, strategic sector positioning, and attractive valuations makes Asian tech stocks a compelling investment in 2026. CARsgen Therapeutics and Gan & Lee Pharmaceuticals are leveraging AI and biotech innovation to outpace regional growth rates, while Shenzhen Newway is capitalizing on the semiconductor industry's AI-fueled renaissance. Their valuations, though varied, reflect a market that is still underestimating their long-term potential.

For investors seeking to reallocate capital into high-growth opportunities, Asian tech stocks offer a unique combination of earnings momentum and strategic advantages. As the AI and semiconductor sectors continue to evolve, these companies are well-positioned to outperform global peers and deliver substantial returns.