我在3個月前就預測Super Micro將在2Q25再次遇到遞延採購，結果與我預測的一致Super Micro: Shortfall stem from specification changes from a major new customer that delay revenue recognition.法說會議紀錄：https://t.co/Smp7fMXTQB https://t.co/cPOF1gslgb郭明錤 (Ming-Chi Kuo) (@mingchikuo):大致分析一下Super Micro (美超微) 的初步業績。結論是本季度的財報可能還會繼續承壓。目前AI伺服器主要有3種類型，包括ASIC (如Google TPU伺服器)、Nvidia GB200/300 NVL72與Nvidia較低階伺服器 (如x86 HGX系列)。目前AI伺服器產業的主要成長動能來自ASIC與NVL72，需求來自於CSP。Super ...

Core Viewpoint - TSMC's employee bonuses and dividends for 2024 have reached a record high, reflecting strong revenue and profit growth from the previous year, with an average payout of over NT$200 million per employee [1][2]. Group 1: Employee Compensation - TSMC will distribute a total of NT$140.59 billion in employee performance bonuses and dividends for 2024, marking a year-on-year increase of over 40% [1][2]. - The average annual bonus per employee is NT$200.84 million, which represents a year-on-year increase of NT$51.32 million, or approximately 34.32% [2]. - Employees with six years of service can expect bonuses as high as NT$1.8 million, while those with five years and top performance ratings can receive around NT$1.16 million [1]. Group 2: Financial Performance - TSMC's total revenue for 2024 is projected to reach NT$2.8943 trillion, with a net profit of NT$1.1732 trillion, both figures representing new highs [1]. - The earnings per share (EPS) is expected to be NT$45.25, showcasing TSMC's strong competitive position in the semiconductor industry [1]. Group 3: Industry Context - The global semiconductor industry is facing challenges, with competitors like Samsung and Intel experiencing delays and operational difficulties in their advanced process technologies [4][5]. - TSMC maintains its leadership in advanced process technology, with plans to mass-produce 2nm processes in the second half of this year and A16 processes by the second half of 2026 [5]. - The demand for high-end processes is expected to rise due to the growing need for AI servers, further solidifying TSMC's position as a leading foundry [5].