Taiwan Semiconductor Manufacturing plays a critical role in the development of AI chips.Over the last couple of years, the technology industry has become overwhelmingly enamored with artificial intelligence (AI). In particular, semiconductor stocks have witnessed newfound growth and investors can't seem to get enough. While Nvidia is the biggest icon in the chip space right now, I see another company emerging as a superior investment over the next several years.Let's explore why Taiwan Semiconductor Manufac ...

Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) has become a new poster boy on the global artificial intelligence (AI) frenzy. The company is the largest manufacturer of AI-based chipsets for the world’s best AI chipset developers. TSM provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.Taiwan Semiconductor reported excellent results for seco ...

证 券 研 究 报 告 台积电（TSM）FY24Q2 业绩点评及法说会纪要 会议时间：2024 年 7 月 18 日 会议地点：线上 24Q2 业绩超预期，上修 2024 全年 CAPEX 指引中值 ❖ 事项： 2024 年 7 月 18 日台积电发布 2024 年 Q2 季度报告，并召开业绩说明会。 2024Q2，公司实现营收 6735.1 亿新台币/208.2 亿美元，美元计价同比增长 32.8%，环比增加 10.3%；毛利率为 53.2%，同比下降 0.9pct，环比提升 0.1pct。 ❖ 评论： 1. 业绩总览：2024Q2 实现营收 6735.1 亿新台币/208.2 亿美元（美元计价： QoQ+10.3%，YoY+32.8%），超出指引上沿（此前指引为 196~204 亿美金）；环 比增长主要得益于 3nm 和 5nm 制程的强劲需求，抵消了部分智能手机市场季 节性波动的影响；2024Q2 实现毛利率 53.2%（QoQ+0.1pct，YoY-0.9pct），超 出指引上沿（前期指引为 51%~53%），主要受益于成本和汇率的改善，整体产 能利用率高于公司三个月前的预测。 2. 营收按市场拆分： ...

浦银国际 首次覆盖 浦银国际研究 首次覆盖 | 半导体行业 股价表现 台积电 台积电股价（新台币） 相对于标普500表现(右轴) 0 500 1000 1500 (200%) (100%) 0% 100% 23-07 23-10 24-01 24-04 资料来源：Factset、浦银国际 （2330.T T/TSM.US） 图表 1：盈利预测和财务指标（2022-2026E） | --- | --- | --- | --- | --- | --- | |------------------------|-------|-----------|-------|-------|---------------------| | 新台币百万 | 2022 | 2023 | 2024E | 2025E | 2026E | | 营业收入 | | | | | 3,516,122 4,124,807 | | 营收同比增速 | | 43% (5%) | | | | | 毛利率 | | | | | | | 净利润 | | | | | | | 净利润增速 | | 68% (14%) | | | | | 基本每股收益（新台币） | ...

With fresh growth prospects and a potential rebound in one of its most important businesses, TSMC could hit the $2 trillion mark sooner than expected.The trillion-dollar market cap club is exclusive. As it stands, there are only seven companies in the world that have passed that mark. Apple, Microsoft, and Nvidia reign supreme, sitting in the illustrious $3 trillion club, but Alphabet is the lonely company in the $2 trillion club -- for now.With a market cap of just over $880 billion, Taiwan Semiconductor M ...

Taiwan Semi's stock hasn't felt the effects of a great quarter yet.Sometimes the market misprices a stock and investors need to take advantage of it before the market corrects itself. Taiwan Semiconductor (TSM 1.04%) falls under this category right now, as it's down around 12% from its all-time high despite reporting incredible results. Before investors rush in to take advantage of the mispricing, it's wise to understand how it got that way in the first place. After knowing why TSMC experienced the drop, it ...

This could be the next semiconductor giant to attain a trillion-dollar market cap.Semiconductor stocks have been in fine form on the stock market since the beginning of 2023, thanks to the terrific demand for chips used to power artificial intelligence (AI) servers, smartphones, and personal computers, among other things. The PHLX Semiconductor Sector index has shot up a terrific 115% since the beginning of last year, driven by the outstanding gains that the likes of Nvidia have clocked during this period.M ...

证券研究报告 | 公司动态点评 2024 年 07 月 23 日 台积电（TSM.N） 确认半导体增长趋势，上调全年营收增速指引 | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------|--------|--------|--------|---------|---------|--------------------------------|------------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万美元） | 73,670 | 70,599 | 88,851 | 110,815 | 133,985 | 股票信息 | | | 增长率 yoy（%） | 28.7 | -4.2 | 25.9 | 24.7 | 20.9 | | | | 归母净利润（百万美元） | 32,311 | 27,816 | 34,319 | 43,599 | 53,179 | 行业 | 半导体产品 | | 增长率 yoy（%） | 5 ...

Tanaonte Investment thesis We have covered TSMC (NYSE:TSM) stock before, and as we expected, our revenue distribution expectations were met. Revenues from the HPC segment represented 52% of the Company's revenues (+6 p.p. QoQ), while revenues from the Smartphone segment declined to 33% of the Company's revenues (-5 p.p. QoQ). The growth rate of demand for the company's advanced chips exceeded our expectations, so the company's actual revenue was higher than our forecast. In general, it is worth noting t ...

证券研究报告 | 季报点评 2024 年 07 月 23 日 台积电(TSM) 2024Q2 业绩超预期,上调全年指引 公司 2024Q2 业绩超预期,上调 2024 全年收入指引。2024Q2 台积电收入 208.2 亿美元,yoy+33%,按新台币收入为 6735 亿新台币,yoy+40%。公司 Q2 毛利 率 53.2%,Q2 归母净利润为 2478.5 亿新台币,yoy+36.8%。 公司指引 2024Q3 收入 224-232 亿美元、好于预期。基于美元兑新台币的平均汇 率 32.5,预期毛利率 53.5%-55.5%,营业利润率 42.5%-44.5%。2024 年全年收 入指引按美元计价上调至 25%左右(mid twenties percent)。 高性能计算收入占比首超 50%。下游场景方面,2024Q2 台积电 HPC、智能手 机、IoT、汽车、数字消费电子分别占比 52%/33%/6%/5%/2%,YoY+8/+0/-2/- 3/-1pct,QoQ+6/-5/+0/-1/+0pct,智能手机受到季节性影响。需求景气度方面, 据台积电法说会,AI 需求强劲,持续受益于智能手机和 AI 对先 ...