Market-moving information surfaces between earnings events, reshaping expectations before quarterly reporting cyclesInterim data updates offer early insight into demand, production, and profitability across key industriesMonitoring interim events helps investors anticipate volatility, refine forecasts, and manage portfolio riskMacroeconomic volatility feels like it has been ratcheted up a few notches in recent years. Stock prices, interest rates, commodity trends, and currency pairs turn on a dime, while ...

Recognized as the Global Leader in Merchant NAND Flash Controller Innovation th Clarivate evaluates organizations based on comprehensive metrics, including patent influence, success, globalization, and technical distinctiveness. Silicon Motion's inaugural inclusion in this list highlights not only our robust performance in accumulating patent volume but also our significant advantages in 'Grant Rate' and 'Downstream Influence.' This achievement underscores our success in transforming R&D innovations into hi ...

Core Viewpoint - The article emphasizes the importance of core values such as excellence, integrity, transparency, and respect for long-term success in the investment sector [1]. Group 1 - The author identifies as a full-time investor with a strong focus on the tech sector and holds a Bachelor of Commerce Degree with Distinction, majoring in Finance [1]. - The author is a lifetime member of the Beta Gamma Sigma International Business Honor Society, indicating a commitment to academic excellence [1]. - The article invites readers to provide constructive criticism and feedback to enhance the quality of future work [1]. Group 2 - The author discloses having no stock, option, or similar derivative positions in any mentioned companies and has no plans to initiate such positions within the next 72 hours [1]. - The article expresses the author's personal opinions and states that no compensation is received for the article, except from Seeking Alpha [1].

Ac t i o n | Changing our Valuation Methodology: EV/EBITDA SOTP – Global memory industry has been traditionally centered around commodity products with high cyclicality. Consequently, Price-to-Book (PBR) has been used customarily and frequently to derive future value. However, with the emergence of HBM which has a strong custom nature, we believe memory market is evolving into a foundry-like business, similar to TSMC's. To effectively reflect underlying profit growth outlook for customized memory (e.g. HBM) ...

If there was one semiconductor stock that I've truly regretted not adding a lot more into my personal portfolio, it has got to be Taiwan Semiconductor Manufacturing Company Limited ( TSMJR Research is an opportunistic investor. I was recognized by TipRanks as a Top Analyst, and also by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. I identify attractive risk/reward opportunities supported by robust price action to potentially generate alpha ...

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) is a crucial player in the AI supply chain, manufacturing chips for companies like Nvidia and AMD, and is currently trading at a discount despite impressive growth [1][2]. Company Overview - TSMC is the world's largest semiconductor foundry, known for its efficiency, scale, precision, and yield, making it the most dependable choice for companies needing chip manufacturing [3]. - The company has shifted from primarily manufacturing smartphone chips to focusing on advanced AI chips for data centers, capturing a market share in the upper 90% range for these products [4]. Financial Performance - TSMC generated $122.4 billion in revenue in 2025, marking a nearly 36% increase from 2024, and achieving its first $100 billion year [6]. - The gross margin increased from 56.1% to 59.9% in 2025, with an operating margin rise from 45.7% to 50.8%, indicating strong operational execution [7]. - In Q4, TSMC reported a gross margin of 62.3% and an operating margin of 54% [7]. Market Position and Valuation - TSMC operates a virtual monopoly on advanced AI chips, allowing it to command premium pricing for its services [8]. - Despite a 69% increase in stock price since the start of 2025, TSMC trades at only 25 times its projected earnings for the next year, which is cheaper compared to competitors like Broadcom, Intel, and Nvidia [9]. - Given TSMC's market dominance, pricing power, and growth opportunities, its current valuation appears attractive for long-term investors [11].

In this article2330-TWINTCNVDAC.C. Wei, CEO of TSMC, and Jensen Huang, CEO of Nvidia, interact on stage during TSMC’s annual sports day in Hsinchu, Taiwan, Nov. 8, 2025. Ann Wang | ReutersWhen Jensen Huang first met Morris Chang decades ago, he told the founder of Taiwan Semiconductor Manufacturing Company that one day Nvidia would be the chip foundry's biggest customer. That's a story Huang, Nvidia's CEO, was asked about on a recent podcast, and it's a promise that is on track to be realized this year. Nvi ...

Summary of Intel Corp (INTC.O) Conference Call Company Overview - **Company**: Intel Corp - **Industry**: Semiconductor - **Market Position**: Leading supplier of microprocessors for desktop PCs, notebook PCs, and servers with approximately 70% market share - **Revenue Sources**: Approximately 90% of total revenue from PC and Datacenter segments Key Points Financial Performance - **Stock Performance**: Intel's stock fell 11% after hours due to lower gross margins driven by internal CPU supply constraints [1] - **Earnings Guidance**: The March quarter is expected to be the low point for gross margins, with expectations of above-seasonal sales for the rest of the year driven by AI demand [1][2] - **Earnings Per Share (EPS)**: Revised EPS estimates for CY26 and CY27 are lowered by $0.48 and $0.17 respectively due to lower gross margins [1] - **Target Price**: Target price revised to $48, reflecting a P/E of 37x based on revised CY27 EPS [1] Market Trends - **PC Market**: Expected to decline year-over-year due to memory supply constraints, with further downward revisions anticipated for PC unit shipments in 2H26 [3] - **Server Market**: Anticipated to grow double-digit year-over-year, driven by AI and replacement demand, although Intel expects to ship below server demand throughout 2026 due to supply constraints [3] Product Developments - **ASIC Revenue**: Achieved $1.0 billion in annualized revenue from ASIC products, including the Infrastructure Processing Unit (IPU) for Google [4] - **Advanced Packaging**: Revenue opportunities from advanced packaging are now in the billions, significantly higher than previous expectations [5] Operational Insights - **Manufacturing Yields**: Intel is focused on improving yields across all nodes, with expectations to reach industry-standard yields by 2H26 [11] - **Capex**: Capital expenditures are expected to be flat to down slightly year-over-year, which is favorable for semiconductor stocks [1][12] Segment Performance - **Client Computing Group**: Revenue was $8.19 billion, down 4% quarter-over-quarter, below consensus estimates due to prioritization of data center wafers [13] - **Datacenter and AI Group**: Revenue increased by 15% quarter-over-quarter to $4.74 billion, driven by strong server demand [14] - **Intel Foundry**: Revenue was $4.51 billion, up 6% quarter-over-quarter, exceeding estimates due to a better product mix [15] - **All Other Segment**: Revenue decreased by 42% quarter-over-quarter to $574 million, but was above estimates due to higher Mobileye sales [16] Balance Sheet Highlights - **Cash Position**: Cash and short-term investments increased by $6.48 billion quarter-over-quarter, driven by operating cash flows [17] - **Inventory Management**: Inventory dollars increased slightly, but days of inventory decreased, indicating improved efficiency [18] Risks and Considerations - **Market Dependency**: Intel's revenue is highly dependent on IT spending, with potential risks from fluctuations in the PC and server markets [30] - **Competition**: Direct competition with AMD in the microprocessor market poses risks to market share and revenue estimates [31] - **Macroeconomic Factors**: Global economic conditions could impact Intel's performance, given its geographic exposure [32] Conclusion - **Investment Rating**: Maintained a Neutral rating on Intel shares, with a cautious outlook on market share loss in the core CPU market but positive sentiment towards the foundry business [28]

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) is significantly investing to meet the growing demand for AI chips, with a planned capital expenditure of up to $56 billion, indicating strong confidence in sustained AI demand despite some caution from its CEO [2][4][5]. Company Overview - TSMC holds a dominant market share in the logic chip market, essential for AI computing, and is increasing production capacity to meet demand [2]. - The company's stock has increased over 300% since the start of the AI race in 2023, yet it is still considered undervalued compared to major tech companies [7][8]. Financial Performance - TSMC's revenue rose by 26% year over year during its last quarter, and it trades at 25 times forward earnings, which is competitive compared to the broader market [8][10]. - The company projects nearly 30% revenue growth by 2026 and expects a compound annual growth rate (CAGR) of 25% through 2029 [11]. Market Dynamics - Continued spending by AI hyperscalers on data centers is crucial for maintaining elevated demand for TSMC's chips, with projections indicating growth in data center buildouts through at least 2030 [12]. - The overall market environment shows that major tech companies trade at about 30 times forward earnings, while TSMC's growth rate is expected to accelerate, making it a potentially stronger investment [8][10].

Group 1: Company Performance and Expectations - Taiwan Semiconductor Manufacturing (TSMC) is expected to gain about 25% this year, following a solid performance with a 54% increase in 2025 [1] - The average consensus target price for TSMC is $408.50, indicating a potential 25% increase over the next 12 to 18 months [1] - TSMC's stock has gained 54% over the past year while maintaining a P/E ratio of 31, which is attractive given its growth opportunities [8] Group 2: Industry Position and Demand - TSMC is a leading foundry that manufactures semiconductors essential for various technologies, including smartphones, autonomous vehicles, and artificial intelligence (AI) [2] - Major companies like Amazon, Meta Platforms, and Alphabet are planning to increase their AI spending, which collectively amounts to several hundred billion dollars [3] - TSMC is raising its capital expenditure to meet the increasing demand for semiconductors, with management guiding for a 30% sales increase in 2026 [3] Group 3: Financial Metrics and Projections - Wall Street expects TSMC's earnings per share (EPS) to rise to $13.05 in 2026, a 23% increase from $10.65 in 2025, alongside a 31% increase in sales [10] - The highest price target for TSMC stock is $520, representing a 59% increase from the current price, with a strong likelihood of reaching this target within the next 12 to 18 months [11]