Taiwan Semiconductor Q2 FY12/23 Earnings Review
Numbers Not As Instagrammable As They Once Were
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The Process Nodes May Be Shrinking, But So Is The Cashflow And The Growth
Taiwan Semiconductor Manufacturing Company TSM 0.00%↑ is one of the most important companies on the planet. It is the #1 producer of advanced process node (that's techie for "small") semiconductor devices. Only Intel INTC 0.00%↑ really comes close in volume and they have their own problems to battle before they become a true competitor to TSMC. Unfortunately and not coincidentally, TSM finds itself sat right in the crosshairs of the new Cold War between the Great Powers of the US and China. Taiwan and the West believe this to be a Taiwanese business; China believes Taiwan to be a Chinese business ergo TSM must also be a Chinese business. We don't know how this resolves but we do know it adds a degree of risk to the stock.
For our Premium and Pro members we run through Q2 earnings below together with the company’s Q3 outlook, valuation, stock chart and our ratings. If you’re a free subscriber here and you’d like to move up to a paid plan, you can do so right here.