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ASIA STOCKS: TSMC Quarterly Results Expected To Show Strong Profit Growth

ASIA STOCKS
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  • TSMC is expected to report its fastest profit growth in two years, driven by strong demand for AI chips and its high-end chipmaking dominance. Analysts forecast a 55% increase in net income for Q4, with estimates including NT$369.84b in net income, a 58.5% gross margin, and NT$855.34b in sales. For 2024, sales are projected at NT$2.88t, with R&D expenses of NT$205.98b and capital expenditures of $35.14b.
  • Key focus areas for TSMC's earnings call include CoWoS advanced packaging demand, the ramp-up of its Arizona fab, potential margin pressures from mature nodes, and capital-spending plans for 2025. Analysts are optimistic, with 39 buys and a 46.1% upside implied from the average price target of NT$1,570, there is just 1 analyst recommending a hold and zero recommending a sell. TSMC shares have surged 86.6% in the past year, outperforming Taiwan's TWSE Index, which rose 30.2%.
  • The Bloomberg Asia Semiconductor Index is 3.42% higher today, after the Philadelphia SE Semiconductor Index rose 2.10% overnight.
  • The call will kick off at 2pm Taipei time, link (here)
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  • TSMC is expected to report its fastest profit growth in two years, driven by strong demand for AI chips and its high-end chipmaking dominance. Analysts forecast a 55% increase in net income for Q4, with estimates including NT$369.84b in net income, a 58.5% gross margin, and NT$855.34b in sales. For 2024, sales are projected at NT$2.88t, with R&D expenses of NT$205.98b and capital expenditures of $35.14b.
  • Key focus areas for TSMC's earnings call include CoWoS advanced packaging demand, the ramp-up of its Arizona fab, potential margin pressures from mature nodes, and capital-spending plans for 2025. Analysts are optimistic, with 39 buys and a 46.1% upside implied from the average price target of NT$1,570, there is just 1 analyst recommending a hold and zero recommending a sell. TSMC shares have surged 86.6% in the past year, outperforming Taiwan's TWSE Index, which rose 30.2%.
  • The Bloomberg Asia Semiconductor Index is 3.42% higher today, after the Philadelphia SE Semiconductor Index rose 2.10% overnight.
  • The call will kick off at 2pm Taipei time, link (here)