We expect revenue momentum to remain strong in 2026-28e, thanks to continuous chip upgrades that lead to increasing pin counts in probe cards, with customers also further adopting MEMS probe cards, which leads to further ASP increase. Besides probe cards, we margin front, continual migration to MEMS (GM at >60%, vs CPC/VPC at 45/50%) and 2024 to 62% in 2028e, per 0ur projection. Our 2026/2027 EPS are 4.3%/36% above drivers beyond the current Al narrative. While consensus increasingly factors in hyperscaler-driven Al ASIC demand, we believe that it does not fully capture the pin counts, alongside accelerating customer migration toward MEMS. In addition, a cyclical higher pin counts - and MPl's potential entry into the memory segment, where it could gain share from incumbents such as MJC, remain under-recognized. Finally, although MPl's relatively well understood, we see incremental upside from its early--stage exploration of die-level testing opportunities in Insertions 3 and 4, which we believe are not yet reflected Furthermore, we think there is still a catch-up opportunity in MPl's foreign holding positioning. QFll ownership has increased from 10% last August to 40% currently. We