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TSM Inventory Rises As Taiwan Semiconductor Beats Q1 Earnings Goal 

Taiwan Semiconductor Manufacturing Co. (TSM), the world’s largest contract chipmaker, on Thursday narrowly beat Wall Road’s goal for its first-quarter earnings. However its gross sales steering for the present quarter was slightly mild. TSM inventory rose in early buying and selling.


Taiwan Semiconductor, higher often known as TSMC, earned 96 cents per U.S. share within the March quarter. Analysts anticipated the chip foundry to earn 95 cents a share within the interval. On a year-over-year foundation, TSMC earnings rose 28%.

Final Friday, TSMC reported better-than-expected first-quarter gross sales of $12.92 billion, up 25% 12 months over 12 months.

For the June quarter, TSMC expects income of $12.9 billion to $13.2 billion. The midpoint of $13.05 billion is beneath Wall Road’s consensus estimate of $13.15 billion. Within the second quarter final 12 months, TSMC generated gross sales of $10.38 billion.

TSM Inventory On Leaderboard Listing

In premarket buying and selling on the inventory market as we speak, TSM inventory climbed 0.6%, close to 121.50. TSM inventory has been consolidating for the previous 9 weeks at a purchase level of 142.29, based on IBD MarketSmith charts.

Within the first quarter, shipments of 5-nanometer semiconductors accounted for 14% of whole wafer income at TSMC, whereas 7-nanometer chips accounted for 35%. Circuit widths on chips are measured in nanometers, that are one-billionth of a meter.

Demand for high-performance computing, or HPC, chips boosted TSMC’s first-quarter enterprise. However this was balanced by milder smartphone chip gross sales than traditional for the season, the corporate mentioned.

“Transferring into second quarter 2021, we count on our income to be flattish, as HPC-related demand will proceed to develop, offset by smartphone seasonality,” Chief Monetary Officer Wendell Huang mentioned in a information launch.

TSMC makes chips for a number of main fabless chip designers, together with Apple (AAPL), Superior Micro Units (AMD) and Nvidia (NVDA).

After hitting a report excessive of 142.19 on Feb. 16, TSM inventory fell 24% in a tech inventory sell-off earlier than starting to recuperate.

Lately it has confronted resistance at its 50-day transferring common line, based on Leaderboard evaluation. TSM inventory is on IBD’s Leaderboard watchlist.

Comply with Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on shopper know-how, software program and semiconductor shares.


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