At the time of the countdown of Zhang Zhongmou's retirement, foreign capital sold Super TSMC for 7 consecutive trading days, accumulatively selling over 31,942 copies, and on June 1st, TSMC’s closing price was 224 yuan, compared with the historical high price of 266 yuan set in January, and 42 The price difference between yuan.
Chu Xiang, chairman of the South China Investment Co., Ltd., said that foreign capital will collectively sell more than 176.4 billion yuan of Taiwanese shares this year. TSMC is the largest company in Taiwan's stock market and cannot avoid becoming a foreign-funded “dispensation machine.” But this does not mean that foreign companies have taken a bad look at TSMC, or it has changed. Evaluation of TSMC.
Chu Xiangsheng said that whether the US dollar weakened and whether the US Philadelphia Semiconductor Index could break through the 1464.6-point high reached in March was the two observations that TSMC’s share price rebounded.
Chu Xiangsheng said that the weaker US dollar is expected to trigger the flow of funds back into Taiwan. By then, TSMC will be one of the foreign-funded targets. If the fee-half index breaks through the March high, it will inevitably be linked to Taiwan’s semiconductor stocks. TSMC is also expected to Once again became the Taiwan stocks gaining pointers.
According to the data of the stock exchange, after Zhang Zhongmou announced his retirement plan on October 2 last year, the share price of TSMC did not fall back and rose to a new high, indicating that the market did not regard “Zhang Zhongmou’s retirement” as bad, but interpreted it as “succession”. After certain factors were removed, TSMC’s stock price finally returned to the fundamentals.
According to previous estimates by TSMC, this year's 7-nanometer process is expected to contribute 10% of revenue, and the enhanced 7-nanometer process is expected to be launched this year. The 5-nanometer process will be trial production in the first quarter of next year.
Analysts said that TSMC’s advanced short-term manufacturing process developed on schedule. Within two to three years, the industry’s leading position is quite stable. Although the second quarter operation may not be as expected, it is estimated that the revenue in the second half of the year is better than the first half, and the growth rate can reach 16%. In 17%, the stock price rose with the height of the season, and has the opportunity to challenge the historical high price of 266 yuan.
As for the second quarter operating outlook, due to the weak demand in the smart phone market, the second quarter's revenue may fall below expectations, it will drop to 7.8 billion to 7.9 billion U.S. dollars, quarterly decrease of 7% to 8%, plus the virtual currency mining demand is not With deterministic impact, this year's revenue growth target has been reduced from the previous 10% to 15% to a growth of 10%.
In addition, according to TSMC estimates, this year's memory-free semiconductor market growth rate of about 5%, is a low target of 5% to 7% growth target, foundry industry growth rate of about 8%, did not reach the expected growth target of 9% 10%.