文章核心观点 - 台积电预计在2024年第二季度业绩表现强劲 [1][2] - 预计收入将达到190亿美元至204亿美元,同比增长28.9% [3] - 预计每股收益为1.37美元,同比增长20.2% [4] 公司表现 - 台积电在过去4个季度中均超出市场预期,平均超出7.46% [7] - 公司在人工智能、云计算、物联网和元宇宙等新兴应用领域表现出色 [10][11] - 持续投资于先进和专业技术,7nm和3nm工艺的强势推动了公司业绩 [12][13] - 3nm和2nm工艺的产能扩张也为公司带来了动力 [14] - 在高性能计算和智能手机应用领域保持了良好的增长势头 [15][16] - 在汽车、物联网和数字消费电子等领域也取得了进展 [17] - 多项目晶圆加工服务的良好采用带动了收入增长 [18] - 与英伟达、AMD和英特尔等芯片制造商的合作关系是公司的优势 [19] 行业环境 - 宏观经济不确定性、通胀压力和地缘政治紧张局势给公司带来了一些挑战 [20] - 但公司仍有望在人工智能、智能手机和电动汽车等领域保持增长 [24][25]

Semiconductors have been the success story of Wall Street over the past two years. Much of the gain that the technology sector has made since the onset of 2023 has been based on the AI optimism-led semiconductor boom. The rising demand for electronics also ensures their status as profitable holdings for investors.Per the Semiconductor Industry Association, global sales for semiconductors are expected to reach $611.2 billion in 2024, rising 16% year over year. In 2025, it is likely to rise 12.5%. The chip-ma ...

文章核心观点 - 台积电目前的估值已经显著偏高 [1][7][8] - 台积电正在积极拓展海外制造基地,包括在美国、日本和德国等地建厂 [2] - 台积电正在开发新的制造工艺A16,预计2026年下半年投入生产 [2] - 台积电已经提高了先进制程的价格,主要客户如英伟达、苹果和高通都接受了价格上涨 [2] - 台积电的AI相关收入预计到2024年将翻一番,未来5年复合年增长率达50%,到2028年可能占总收入的20%以上 [2] 财务和估值分析 - 过去一年台积电的收入和净利润实际出现了收缩 [3] - 台积电在全球半导体代工市场占有超过60%的份额,远超第二大竞争对手三星 [4] - 分析师预测台积电未来5年收入和每股收益的复合年增长率分别为16%和24% [6] - 但过去5年台积电的收入和不含非经常性项目的收益增长率分别为19%和24%,因此目前的估值水平已经过高 [6] - 合理的市销率应该在7倍左右,而目前已经达到11倍 [8] 风险分析 - 地缘政治风险,但台积电正在通过在海外建厂来缓解这一风险 [9] - 传统市场如智能手机和PC的需求疲软,虽然AI相关需求快速增长,但受监管限制的风险 [10] - 作为一个高资本密集型行业,台积电的业绩具有较强的周期性 [10]

Was anyone really shocked by Taiwan Semiconductor Manufacturing’s (NYSE:TSM) strong second-quarter report? It should have been a given that Taiwan Semiconductor stock would blow past expectations. After all it’s the largest pure-play foundry used by all the top AI chipmakers.June sales soared 33% year-over-year to $6.4 billion, easily trouncing Wall Street’s expectations of $5.7 billion. Second-quarter sales surged 40% to $20.7 billion. Taiwan Semiconductor makes advanced chips for companies like Nvidia (NA ...

View of the Tainan Science Park in Taiwan, Asia. BING-JHEN HONG Last week, Taiwan Semiconductor Manufacturing (NYSE:TSM) (OTC:TSMWF), also known as TSMC, released its June revenue report. The company reported NT$207 billion in revenue for the month. This Taiwan Dollar sum works out to $6.5 billion in U.S. dollars, assuming that the average exchange rate during the quarter was the same as today’s exchange rate. TSMC has not reported an official U.S. dollar figure for the month yet. The fact that we now hav ...

Taiwan Semiconductor Manufacturing stands to benefit from booming demand in AI chips. One of the biggest catalysts in the artificial intelligence (AI) movement is semiconductors. Highly specialized chips called graphics processing units (GPUs) are used for a variety of AI-powered applications including training large language models and autonomous driving. Nvidia has emerged as the de facto leader in generative AI chips thanks to its A100, H100, and new Blackwell series GPUs. Since the beginning of the year ...

文章核心观点 - 台积电是全球最大的代工半导体公司,在持续创新和技术进步方面表现出色[4][5][6] - 台积电正在开发更先进的2纳米芯片,预计将于2025年推出,这将为公司带来巨大的增长机会[6] - 人工智能芯片是台积电未来5年内最快增长的领域,将占公司收入的20%以上[8] - 苹果是台积电最大客户,苹果新手机的升级周期将为台积电带来巨大的业务增长[9] 公司概况 - 台积电是全球最大的代工半导体公司,负责为其他公司制造芯片[4] - 公司通过持续创新和技术进步保持行业领先地位[5] - 公司正在开发更先进的2纳米芯片,预计将于2025年推出[6] 行业趋势 - 人工智能芯片是台积电未来5年内最快增长的领域,将占公司收入的20%以上[8] - 苹果是台积电最大客户,苹果新手机的升级周期将为台积电带来巨大的业务增长[9]

文章核心观点 - 芯片公司TSMC的股价在最近一个交易日上涨1.54%,超过了标普500指数0.55%的涨幅 [1] - 过去一个月TSMC股价上涨6.7%,领先了计算机和科技板块5.73%和标普500指数4.28%的涨幅 [2] - 分析师预计TSMC将在2024年7月18日公布的季度财报中实现每股收益1.37美元,同比增长20.18%;预计季度收入将达到202亿美元,同比增长28.86% [3] - 分析师预计TSMC全年每股收益将达到6.16美元,同比增长18.92%;全年收入将达到851.2亿美元,同比增长22.83% [4] - 投资者应关注分析师对TSMC的预测修正情况,这反映了最新的业务趋势变化 [5] - TSMC目前的市盈率为29.93倍,与行业平均水平相当 [8][9] 行业分析 - TSMC所在的半导体-电路代工行业属于计算机和科技板块,目前行业排名位于全部250多个行业的前2% [10][11] - 研究显示,排名靠前的行业组平均表现是排名靠后行业的2倍 [11]

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

文章核心观点 - 该文章主要介绍了台积电(Taiwan Semiconductor Manufacturing)作为全球最大的半导体代工厂的行业地位和发展前景[1] - 文章认为台积电作为全球最大的半导体代工厂,在先进制程技术、产能和客户资源等方面具有领先优势,未来发展前景广阔[1] 行业概况 - 半导体行业是一个资本密集型和技术密集型的行业,需要大量资金投入研发和建厂[1] - 台积电作为全球最大的半导体代工厂,占据了全球代工市场约54%的份额[1] - 台积电在7纳米及以下先进制程技术方面处于领先地位,能够为客户提供高性能、高能效的芯片解决方案[1] 公司业务 - 台积电主要为全球知名的科技公司如苹果、高通、英伟达等提供先进制程的晶圆代工服务[1] - 台积电拥有全球最先进的制造能力,可以为客户提供7纳米及以下的先进制程技术[1] - 台积电在2021年实现了营收达到1,517亿美元,同比增长24.9%[1] - 台积电在2021年的净利润达到602亿美元,同比增长16.5%[1] 发展前景 - 随着5G、人工智能、物联网等新兴技术的快速发展,对先进制程芯片的需求将持续增长,为台积电带来广阔的发展空间[1] - 台积电将持续加大在先进制程技术和产能方面的投入,进一步巩固其行业领先地位[1]