China’s latest data tells a mixed story. Growth in retail sales, industrial output and investment looks fragile, yet export demand tied to global AI hardware and data centers remains solid. That split creates a window where some exporters could gain even as the domestic economy strains. This article walks through 3 stocks from our Global AI Hardware & Data Center Exporters screener that appear especially exposed to these cross currents right now.

The stocks covered next are just a small sample, and the full screen surfaced 29 more companies with equally compelling AI and data center export stories that are not included in this article. To identify and analyze the highest conviction ideas for your own watchlist, head straight to the Global AI Hardware & Data Center Exporters screener.

Applied Materials (AMAT)

Overview: Applied Materials helps chipmakers around the world build and package advanced semiconductor wafers by supplying the highly specialized equipment, software, and services that sit at the heart of modern fabs. Its tools handle critical steps such as depositing and etching materials, polishing wafers, inspecting quality, and advanced packaging that is increasingly important for AI data center chips.

Market Cap: US$402.7b

Applied Materials sits at the crossroads of global AI hardware spending, with equipment that is essential for the high performance logic, DRAM and advanced packaging used in data centers. The stock has attracted attention thanks to strong recent earnings and high profit margins around 30%. At the same time, heavy exposure to China, export license uncertainty and a concentrated customer base mean results can be uneven, especially when China data, policy shifts or trade rules move quickly. For investors seeking exposure to AI-related infrastructure while weighing clear strengths against policy and cyclicality risks, this is a company that may warrant close monitoring.

Applied Materials sits where AI data center demand, high margins and China export risk all intersect, yet that mix can be easy to misread. Before you decide how it fits your watchlist, review the full 4 key rewards and 2 important warning signs

Build your own AI hardware exporters shortlist

Applied Materials and the two other stocks in this article all came out of a single screen, which is exactly where you can start shaping your own ideas. Use our flexible Screener to mix filters like valuation, growth, balance sheet strength and risks, or jump straight into our curated Investing Ideas for ready-made themes to research further.

Accton Technology (TWSE:2345)

Overview: Accton Technology builds the networking gear that sits behind modern data centers and AI clusters, including high speed switches, edge computing hardware and LAN equipment used by telecoms, cloud providers and enterprises worldwide.

Operations: Accton generates about NT$310.6b in revenue from computer networks, with sales spread globally across America, Europe, Taiwan and the wider Asia Pacific region.

Market Cap: NT$1,285.5b

Accton Technology is tightly linked to the export story investors are watching, since it supplies high capacity data center and AI networking equipment to customers around the world while China’s domestic economy slows and exports tied to AI remain resilient. Earnings and revenue growth have been strong, with expanding profit margins and high ROE. The share price currently trades below some estimates of fair value. At the same time, a richer P/E than the broader Taiwan communications sector, reliance on external borrowing and questions around board independence all raise the bar for ongoing execution. For investors willing to weigh that trade off, Accton’s role in AI data traffic and edge computing could justify a closer look.

Accton’s AI networking story builds on strong recent earnings, widening margins and a richer P/E that the Taiwan sector has not fully priced in yet. Get the full context in the analyst forecasts for Accton Technology

Foxconn Industrial Internet (SHSE:601138)

Overview: Foxconn Industrial Internet runs a broad manufacturing and services platform for global tech hardware, producing 5G network gear, high performance servers, automation equipment and industrial robots, while also offering smart factory and industrial internet solutions to customers in China and overseas.

Market Cap: CN¥1.31t

Foxconn Industrial Internet gives you direct exposure to the global build out of AI data centers and advanced factories at a time when China’s July data shows weak domestic demand but strong export growth tied to AI hardware. The company has reported rapid revenue and earnings growth, rising margins and a high return on equity. Analysts see meaningful upside relative to their target prices and some DCF estimates. In addition, a recently announced buyback and cash dividend indicate an active capital return approach. On the other hand, reliance on external borrowing and a dividend that is not well covered by free cash flow make funding discipline and future policy support in China important factors to watch closely.

Foxconn Industrial Internet sits where rapid revenue growth, higher margins and active capital returns intersect with questions about funding and policy support. Put that full picture together with the 5 key rewards and 2 important warning signs (1 is major!)

Seeking Fresh Alternatives Before They Fly

Some of the most interesting stories start moving quietly before headlines catch up. Spot potential breakouts while information is still fresh and under the radar for now. Act now.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.