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China & Taiwan Update, June 26, 2026

Fortinet exceeded its second quarter guidance for profitability and revenue. The company raised its 2026 revenue guidance to 19% year over year growth. FormFactor also reported record earnings, gross profit, and revenue.

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What changed

Recent financial reports from Fortinet and FormFactor show strong growth and record results.

Live updates

  1. Fortinet and FormFactor Report Strong Q2 2026 Results

    Fortinet exceeded its second quarter guidance for profitability and revenue. The company raised its 2026 revenue guidance to 19% year over year growth. FormFactor also reported record earnings, gross profit, and revenue.

    What's confirmed:

    • Fortinet revenue grew 26% year over year to $2.05 billion.
    • Fortinet exceeded the high end of its second quarter guidance on revenue and profitability.
    • Fortinet raised its 2026 revenue guidance to 19% year over year growth.
    • FormFactor delivered record revenue, gross profit and earnings per share.
    confidence 100%

  2. US Markets Dip Amid Chinese AI Competition Concerns

    US stocks traded lower on Tuesday. Global markets show a cautious mood regarding AI chip stocks. This trend is driven by rising Chinese competition and high corporate spending.

    What's confirmed:

    • US stocks traded lower on Tuesday.
    • INNIO Group reported equipment order intake of $2.3 billion in Q2 2026, a 316% year-over-year increase.

    Still unconfirmed:

    • Concerns over hefty corporate spending and rising Chinese competition are impacting AI chip stocks.
    confidence 90%

  3. China Increases Maritime Activity Near Taiwan

    China has deployed its newest aircraft carrier to the Taiwan Strait and increased patrols east of Taiwan. Western allies including the UK, France, and Germany have raised alarms over these activities. The US has rebuked China's assertions of authority over foreign ships in the region.

    Still unconfirmed:

    • Chinese Coast Guard vessels have patrolled east of Taiwan almost continuously since June 1
    • The Ministry of Natural Resources' East China Sea Bureau deployed the research vessel Xiang Yang Hong 22 east of Taiwan from June 16 to 18
    • The Ministry of Transport conducted a special maritime law enforcement operation east of Taiwan from June 6 to 10
    • Trump and Xi discussed global flash points at their summit but reached no major agreements on Taiwan or Iran
    • A CCTV-affiliated social media account claimed on June 20 that China may consider the area east of Taiwan as near-shore waters
    confidence 70%