TSMC will release its Q3 results on Oct. 16. It has guided for $32.4 billion in revenue at the midpoint of its guidance range. That would be a 39% increase from the same period last year, when TSMC reported a 36% spike in its top line. However, there is a possibility of the company exceeding its own guidance range, considering that AI data centers are running short of capacity, which is likely to spur greater investment in setting up servers.According to market research firm TechNavio, the market for AI chi ...

Core Insights - The success or failure of investments primarily hinges on the accurate judgment of profitability, which is rooted in the depth of understanding [1] - Engaging with historical perspectives and diverse knowledge through reading is essential for enhancing cognitive abilities and identifying investment value [1] Summary by Sections Investment Philosophy - Howard Marks emphasizes that investment outcomes depend on the correctness of profitability assessments [1] - Charlie Munger highlights the importance of aligning one's understanding with the value of desired outcomes [1] Importance of Reading - Continuous reading is a common trait among successful individuals across various industries, which aids in observing long-term trends and fundamental principles [1] - Reading serves as a tool to transcend current limitations in understanding and to discover enduring investment opportunities [1] Featured Book Recommendation - "The Autobiography of Morris Chang" by Morris Chang is recommended as a significant resource for understanding the rise of TSMC, a key player in the global semiconductor and AI industry [4] - The autobiography spans 26 years, providing insights into Chang's journey and the evolution of the semiconductor industry, making it a vital reference for investors and entrepreneurs [4] - Key principles from TSMC's success include continuous innovation, respect for intellectual property, and maintaining a global perspective [4]

Core Insights - The success or failure of investments largely depends on the accurate judgment of profitability, which is rooted in the depth of understanding [1] - Reading is emphasized as a crucial tool for enhancing cognition and recognizing investment value over a longer time frame [1] Company Insights - TSMC, founded by Zhang Zhongmou at the age of 56, is a key player in the global semiconductor and AI industry, holding a leading position in manufacturing processes with a market capitalization exceeding $1 trillion [2] - Zhang Zhongmou's autobiography provides significant insights into TSMC's rise and the broader history of the semiconductor industry, highlighting his legendary career from his early life in mainland China to his professional journey in the U.S. [2] - TSMC's nine key principles, as articulated by Zhang Zhongmou, are essential for becoming a world-class company, focusing on continuous innovation, respect for intellectual property, healthy growth, and global influence [2]

Core Viewpoint - TSMC has significantly reduced the peak power consumption of its advanced EUV lithography equipment by 44%, addressing a major challenge in the semiconductor industry's sustainability efforts [1][3][5]. Group 1: Technological Innovations - The energy efficiency improvement is attributed to deep innovations in equipment collaboration optimization, light source conversion efficiency, and system operation modes [3]. - TSMC's efforts in enhancing manufacturing energy efficiency will effectively reduce the carbon footprint of downstream products, strengthening their market competitiveness [3][5]. Group 2: Industry Context - The semiconductor manufacturing industry is one of the fastest-growing sectors in terms of energy consumption, with TSMC committing to 100% renewable energy usage and net-zero emissions by 2050 [5]. - The energy consumption of manufacturing equipment constitutes a significant portion of the total carbon footprint of chips, making efficiency improvements in core manufacturing equipment crucial for the industry's emission reduction goals [5]. Group 3: Impact of EUV Lithography - A single advanced EUV lithography machine consumes approximately 24,000 to 36,000 kWh per day, equivalent to the daily electricity usage of 1,200 to 1,800 average Chinese households [7][8]. - The reduction of 44% in power consumption translates to an estimated savings of about 13,200 kWh per day for TSMC, leading to annual savings in the range of hundreds of millions of kWh across its production lines [11]. Group 4: Future Outlook - TSMC plans to continue investing in green manufacturing technologies and integrate sustainability deeply into its technological blueprint, aiming to lead the global semiconductor industry towards a more efficient and cleaner future [5].

The sector is being swept up by a wave of good news from AI companies, including ChatGPT-owner The bullishness has pushed the combined market capitalisation of the Philadelphia Stock Exchange Semiconductor Index and a gauge tracking Asia chip stocks up by just over $200 billion in the latest session, according to Bloomberg.Korean chip stocks were among the biggest gainers on Thursday, surging on the OpenAI deal and sending the Kospi Index to a record high. Shares of SK Hynix jumped 10%, while Samsung Elect ...

A major blow for the Trump administration's chip plan. Taiwan's tariff negotiators said this week they never discussed commerce secretary Lutnik's 50-50 semiconductor production split and they're just not interested. This matters because Secretary Lutnik's threatening 100% tariffs unless companies make one chip domestically for every chip imported.But raw semiconductor imports were only $45 billion last year, about 1% of total US imports. Most chips come in finished products like phone and servers. Enforcin ...

Group 1 - The global pure wafer foundry market is expected to see a revenue growth of 33% year-on-year in Q2 2025, driven by strong AI demand and Chinese subsidy policies [1] - TSMC holds a dominant market share of 71% in Q2 2025, benefiting from the expansion of 3nm capacity and high utilization rates of AI GPUs in 4/5nm processes [7] - Samsung Foundry remains in second place, supported by a recovery in smartphone and consumer electronics demand [7] Group 2 - SMIC ranks third and is expected to continue advancing towards more advanced process nodes [7] - The utilization rates of advanced process nodes and wafer shipments from various foundries are projected to continue increasing in Q2 2025 [6] - The market share rankings for various foundries show TSMC leading significantly, followed by Samsung, SMIC, UMC, GlobalFoundries, and others [4]

Core Viewpoint - The 'AI Bubble' is now a significant factor distinguishing bullish and bearish sentiments in the current stock market [1] Group 1: Analyst Background - Uttam is a growth-oriented investment analyst focusing on the technology sector, particularly in semiconductors, artificial intelligence, and cloud software [2] - His research also encompasses MedTech, Defense Tech, and Renewable Energy [2] - Uttam co-authors The Pragmatic Optimist Newsletter, which is frequently cited by major publications like the Wall Street Journal and Forbes [2] - Prior to his research career, Uttam led teams at major technology firms in Silicon Valley, including Apple and Google [2] Group 2: Analyst's Position - The analyst holds a beneficial long position in shares of AMD, TSM, and MU through various financial instruments [3]

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) is the world's largest dedicated integrated circuit foundry, valued at $1.5 trillion, aiming to solidify its position as a leading semiconductor company [1]. Group 1: Stock Performance - TSM has gained 15.61% since a new "Buy" signal was issued on September 9 [2]. - The stock reached an all-time high of $296.72 on October 2 [4]. - TSM has experienced a 27% increase over the past month and a 65.15% increase over the past year [5][6]. Group 2: Technical Indicators - TSM has a 100% "Buy" opinion from Barchart and is trading above key moving averages [5][6]. - The stock has a Weighted Alpha of +75.85 and a Relative Strength Index (RSI) of 75.20 [6]. - There is a technical support level around $280.27 [6]. Group 3: Market Sentiment and Analyst Support - Fundamentals for TSM remain robust, with projected revenue and earnings growth supported by widespread analyst backing [5]. - Despite facing geopolitical risks, positive sentiment and price targets indicate potential for further upside [5].

智通财经APP获悉，周四，芯片股走高，截至发稿，英伟达(NVDA.US)涨超1.5%，AMD(AMD.US)涨近 3%，英特尔(INTC.US)涨0.71%，台积电(TSM.US)涨超1%，博通(AVGO.US)涨超2.2%，美光(MU.US)微 涨。消息面上，知情人士透露，英特尔正与AMD进行早期谈判，探讨让AMD成为其晶圆代工客户。 ...