Taiwan Semiconductor Manufacturing (TSM)

[behappyalways]

Is TSMC’s chip advantage no longer there?

台積電晶片優勢不再？陳鳳馨揭法說會後看到兩隱憂【#風向龍鳳配 】

https://m.youtube.com/watch?v=L6Dj-uI3G2c

[behappyalways]

TSMC reports first profit drop in 4 years as electronics demand slump continues
https://www.cnbc.com/2023/07/20/tsmc-q2-earnings.html

[behappyalways]

the AI revolution is so powerful that Taiwan Semi (world's largest chpimaker) which is the sole chip supplier to NVDA and the main supplier to AAPL, QCOM and AMD reported its first revenue drop since 2019 and slashed guidance; it now expects full-year sales to decline 10%
https://twitter.com/zerohedge/status/16 ... 6154702848

[behappyalways]

No matter how hot AI is, it can't beat the recession!
TSMC's law says that it will cut the annual US dollar revenue by 2%, "annual reduction of 10%"...
Inventory adjustment all the way to Q4

AI再熱也難敵不景氣!台積電法說震撼彈 2度砍全年美元營收"年減1成"...庫存調整一路到Q4｜非凡財經新聞｜20230720

https://m.youtube.com/watch?v=GHrAZEYK_ok

[winston]

not vested

Taiwan Semiconductor (TSM US) - Continued headwinds into 2H23

Taiwan Semiconductor Manufacturing Company (TSMC, stock code: TSM US) is a leading global dedicated contract chip foundry that has consistently been re-investing its cash flows back into its business in the form of research and development (R&D) and capital expenditures (CAPEX).

This has solidified its position at the forefront of leading-edge technology in semiconductor industry, being one of only two players able to mass-produce 5-nanometer (nm) chips today.

Together with its customer-agnostic business model and high-quality manufacturing services, we believe that the company will ride the positive growth trends in high performance computing (HPC), artificial intelligence (AI), internet-of-things (IOT) and autonomous driving (AV).

Despite near-term headwinds from an inventory glut and weakening end-demand in the semiconductor industry, we believe the business should be relatively resilient on the back of relatively higher priced 3-nm wafer production by the end of FY23 and from its customers gaining share in leading-edge market.

While the length and magnitude of an industry downturn is unknown, we believe that TSMC should be able to maintain foundry leadership, while revenue and earnings CAGRs should trend at high-single digits to low-teens over the longer term. BUY.

Source: OCBC

[behappyalways]

TSMC faces many difficulties in setting up overseas factories.
Has the "Sacred Mountain of Protecting the Nation" become an evil boss in the eyes of American labor unions?
Chen Fengxin: The cultural conflict has just begun

台積電海外設廠困難重重 「護國神山」變美國工會眼裡的惡老闆？陳鳳馨：文化衝突才剛開始【Yahoo TV】風向龍鳳配

https://m.youtube.com/watch?v=DfiS3opiQlI

[behappyalways]

China's semiconductors can't overtake!
Zhang Zhongmou: They are pinched and will be "powerless";
TSMC eats Apple and relies on "she" to lead the way. The New York Times describes Zhang Zhongmou as a "casino owner"

中國半導體超車不了!張忠謀:他們被掐住將"無能為力" 台積電吃下蘋果靠"她"牽線 紐時形容張忠謀如"賭場老闆"｜非凡財經新聞｜20230806

https://m.youtube.com/watch?v=qy-J8T5zNk8

[behappyalways]

TSMC asks suppliers to delay chip delivery, says Reuters
https://www.theedgesingapore.com/news/s ... ys-reuters

[behappyalways]

World's Largest Chipmaker Sees 'Bottom' After Semiconductor Downturn
https://www.zerohedge.com/technology/wo ... r-downturn

[winston]

not vested

The world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions.

Revenue came in at 625.53 billion New Taiwan dollars (US$19.62 billion), vs. NT$618.31 billion expected while net income was NT$238.71 billion, vs. NT$225.22 billion expected.

TSMC reported revenue slipped 1.5% from a year ago to NT$625.53 billion, while net income dropped 19.3% from a year ago to NT$238.71 billion. That compares with TSMC’s guidance for fourth-quarter revenue between US$18.8 billion and US$19.6 billion.

“In the fourth quarter, revenue increased 14.4% sequentially from the third quarter, supported by the continued strong ramp of our industry-leading 3-nanometer technology,” said TSMC in its fourth-quarter earnings report.

The company announced another delay to its US$40 billion site in Arizona, dealing a further blow to the Biden administration’s plans to boost manufacturing of critical components on US soil.

Executives said their second plant in Arizona, whose shell is now being built, will start operations in 2027 or 2028, later than TSMC’s prior guidance of 2026.

That’s after the company in July announced a delay to the first site, now due to start making 4-nanometer chips only in 2025, citing a lack of skilled labor and higher costs.

Source: Phillips