Taiwan's top-priced stock, Aspeed Technology, is getting hit hard even though its business is booming — bad news for anyone who bought near the highs, and a warning sign for crowded AI trades.

• Aspeed briefly hit its daily loss limit, dropping below NT$16,000 before trimming losses to about 9%.
• The selling comes right after record results: September revenue doubled from a year earlier, an 11th straight monthly record.
• Aspeed makes the chips that remotely manage servers, and AI data center demand has kept orders strong.
• Foreign brokers have not turned bearish — some recently raised targets far above the current price, up to NT$26,660.
• The real worry is valuation and whether rush orders are fading, not the earnings themselves.

Outlook: Fourth-quarter revenue is expected to jump again, but high-priced AI stocks will stay shaky until buyers see that AI server and chip orders keep coming.