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Taiwan Semiconductor (NYSE:TSM)

  • Gennaio 18, 2024
  • Posted by: Oliver
  • Categoria: Economics, Finance & accounting
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Chip giant TSMC (NYSE:TSM) gained in pre-market trading after the company reported fourth-quarter earnings of $1.44 per ADR unit, a decline of 19.3% year-over-year but still surpassing consensus estimates of $1.39 per share.

The company generated fourth-quarter revenues of $19.62 billion, a decline of 1.5% year-over-year. Analysts were expecting fourth-quarter revenues of $19.68 billion.

In Q4, 3nm (nanonmeter) wafers made up 15% of the company’s total revenues, 5nm chips made up 35% and 7nm comprised 17%. Advanced technologies (7nm and above) chips made up 67% of TSMC’s total wafer revenue.

Looking forward, the company’s management expects the first quarter of 2024 to be affected by smartphone seasonality. TSMC expects to generate revenues between $18 billion and $18.8 billion in the first quarter of FY24.

Is TSM a Buy or Sell?

Analysts remain bullish about TSM stock with a Strong Buy consensus rating based on three Buys and one Hold. Over the past year, TSM stock has gained by more than 15% and the average TSM price target of $111.25 implies an upside potential of 8.1% at current levels.



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