How do you downgrade a company that is the largest chip manufacturer in the world! The NASDQ is out of control because of the growth potential in tech stocks.IBM was also downgraded a couple of months ago..WHO CARES!! TSM can't build plants fast enough to keep up with demand. This stock is vulnerable to profit taking, and I think this is the case.
I don't think the run down has anything to do with the downgrade last Wed. by Schroder. I think it has no direction (yes, no clear direction at this time) since Taiwan is celebrating Chinese New Year and there's no (good or bad) news coming out at all. Some impatient people just take the profit and run last couple days. Taiwan stock resumes tonight(02/09/00) and I suspect it will have a big run and so as TSM. Expecting TSM to go up tomorrow.