|Bid||58.50 x 4000|
|Ask||58.55 x 1800|
|Day's Range||58.01 - 58.75|
|52 Week Range||36.10 - 60.64|
|Beta (5Y Monthly)||0.62|
|PE Ratio (TTM)||26.27|
|Forward Dividend & Yield||2.42 (4.12%)|
|Ex-Dividend Date||Mar 17, 2020|
|1y Target Est||67.78|
The dollar rose while key world and stock indexes on Wall Street scaled new records on Thursday as the U.S.-China trade deal, strong corporate earnings and encouraging U.S. economic data lifted equity markets. Oil rose as the long-awaited Phase 1 trade deal brought some relief to markets, while gold prices slid briefly below the psychological level of $1,500 an ounce as the upbeat data signaled a healthy U.S. economy. Other data showed a gauge of manufacturing activity in the U.S. Mid-Atlantic region rebounded in January to its highest in eight months, leading the Federal Reserve Bank of Philadelphia to call the factory outlook the brightest in more than 18 months.
Stocks continue to push higher, with major U.S. indices hitting more record highs on Thursday. That being said, here's a look at a few top stock trades for Friday. Top Stock Trades for Tomorrow No. 1: Signet Jewelers (SIG)Source: Chart courtesy of StockCharts.comThere's a short squeeze alert in Signet Jewelers (NYSE:SIG). The stock is more than 40% on Thursday on better-than-expected earnings. With a short interest of 32% and needing more than seven days to fully cover, this one has squeeze written all over it.Signet isn't the only short squeeze out there, it's just the latest to do so. The stock erupted out of its short-term channel (blue lines) and over the $27.50 level. I would love to see the latter hold as support in the event of a pullback.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpeaking of which, that will be on investors' minds if SIG stock fails to reclaim the 100-week moving average currently near $32. Above that, and the $34 to $35 area will be the next upside target. Top Stock Trades for Tomorrow No. 2: Microsoft (MSFT)Source: Chart courtesy of StockCharts.comThis slow-and-steady juggernaut just keeps grinding higher, with Microsoft (NASDAQ:MSFT) hitting another new high on Thursday.I think the best thing investors can ask for now is some gentle consolidation. Similar to what we saw from July through October, when Microsoft chopped between the $130-$140 range as the stock digested its big gains from the previous six months.For now, shares are in an uptrend, with the 20-day moving average acting as support. Dips to this mark can be bought, until the trend fails. Once that happens -- not if -- then investors can start turning more cautious on the name, and keep an eye out for a potential pullback or consolidation phase. Top Stock Trades for Tomorrow No. 3: Tandem Diabetes Care (TNDM)Source: Chart courtesy of StockCharts.comTandem Diabetes Care (NASDAQ:TNDM) shares were moving higher on Thursday. And while the charts are setting up nicely, overhead resistance looms large.The stock continues to put in a series of higher lows, and is over all of its major moving averages. However, the $72 level has been stiff resistance, while $74 hasn't been much kinder. A breakout over the former likely sends it to the latter, but a breakout over both would be more ideal.It could happen on the next test, but TNDM's breakout may be more sustainable if it rallies up to this level, pulls back into support and tries again after making another higher low. Either way, keep both support and resistance on watch. Top Stock Trades for Tomorrow No. 4: InMode (INMD)Source: Chart courtesy of StockCharts.comInMode (NASDAQ:INMD) shares jumped higher on Thursday, creating an interesting setup. A week ago, INMD stock broke out over downtrend resistance, but has been finding resistance at $45 as of late.For now, the 20-day moving average is acting as support, while the 50-day moving average has been mixed. Some days it has been support, others days it has drawn in sellers.However, that's not the focus. Instead, watch $45. Over this mark puts this week's high on the table, at $45.95. Over that, and $50 isn't out of the question for INMD. Below the 20-day moving average, and the backside of prior downtrend resistance is on watch. Top Stock Trades for Tomorrow No. 5: Taiwan Semiconductor (TSM)Source: Chart courtesy of StockCharts.comTaiwan Semiconductor (NYSE:TSM) is essentially flat on Thursday, despite initially rallying on earnings. Now, the stock is setting up in a rather tight trading range.Shares are struggling with the $60 level and uptrend resistance (blue line). On the plus side, the 20-day moving average has been acting as support, while longer-term uptrend support (purple line) remains in play.Below support, and the $57 gap-up support mark is in play with the 50-day moving average just below. If the 50-day fails as support, TSM will need more time to reset. Over the two-day high of $59.70, and TSM can rally up to trend resistance -- currently near $61.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Stocks to Buy Under $10 * 5 Retail Stocks Placer.ai Thinks Can Win Big in 2020 * 6 Cheap Stocks to Buy Under $7 The post 5 Top Stock Trades for Friday: SIG, MSFT, TNDM appeared first on InvestorPlace.
Chipmaker Taiwan Semiconductor Manufacturing Company, known as TSMC, on Thursday topped estimates for fourth-quarter earnings and gave better-than-expected guidance. TSMC stock rose.
In the latest signal that the chip industry is headed for a pick up in demand after a weak 2019, the world’s leading chip manufacturer for hire reported strong fourth-quarter results, better-than-expected first-quarter guidance, and spending plans for 2020 that should please investors in semiconductor-equipment stocks.
TSMC issued a strong Q1 sales outlook amid heavy demand for its most advanced manufacturing processes. And it shared a capex budget that has given a boost to chip equipment stocks.
Will chips still lead the market rally? Taiwan Semiconductor reported mixed earnings, but 5G guidance was bullish for the chip industry and key customers Apple, AMD and Nvidia.
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), one of the world's top contract chipmakers, is under mounting pressure from the Trump administration to make chips in the U.S., sources told the Nikkei Asian Review. Military-grade chips made by TSMC, which is a key supplier to tech giants like Apple Inc. (NASDAQ: AAPL) and Huawei Technologies Co. Ltd., are used in several American aircraft, including the F-35 jets. “The U.S. government wants chips that go into military projects to be built on American soil,” a senior Taiwanese government official told The Nikkei.
(Bloomberg Opinion) -- Huawei Technologies Co. has become very much the U.S.’s whipping boy in the battle to nip China’s technological ascendancy in the bud. President Donald Trump’s administration has slapped sanctions and curbs on the Shenzhen-based company and lobbied allies to do the same. Last month growing resistance against Huawei among lawmakers in Germany’s governing coalition sparked threats of retaliation from the Chinese ambassador. But what’s happening next door in the Netherlands has higher stakes for China. There, Beijing’s envoy this week said there will be negative consequences if the Dutch continue to block the export of a single piece of high-tech manufacturing equipment made by ASML Holding NV. According to Reuters, the U.S. has exerted pressure to prevent the sale to a Chinese firm. But it’s not just any machine. It’s a $150 million state-of-the-art apparatus that could ensure Moore’s Law — which says that processing power doubles every 18 months — continues apace, and the microchips powering our smartphones, computers and networks get ever smaller.Like with Huawei, U.S. Secretary of State Mike Pompeo cited intelligence concerns, though Reuters didn’t specify what they are. The Hague subsequently rescinded an export license it had previously granted for the machine.Any individual nation state cutting Huawei, the world’s largest networking business, out of the supply chain for its 5G networks will of course be a blow to the Chinese firm. But the impact on China as a whole will be limited. Beijing will still be able to build its own next-generation telecommunication networks, and losing a few exports will have a minor effect on the economy as a whole. Huawei’s sales in Europe, the Middle East and Africa totaled $31 billion in 2018.A ban on buying machines from ASML is potentially far more significant, because it will hinder China’s ambitious goals to strengthen its super high-tech manufacturing industry.As far as tech giants go, ASML doesn’t have the global brand cachet of an Apple Inc., Samsung Electronics Co. or Amazon.com Inc. That’s partly because its products are two steps removed from the electronic devices that reside in consumers’ pockets, on their desktops or in their living rooms: ASML builds the machines that make the semiconductors that go into their devices. But it’s one of Europe’s biggest three technology companies, and its top customers include chipmakers Intel Corp., Samsung and Taiwan Semiconductor Manufacturing Co., which is known as TSMC and makes chips for Apple and Huawei alike.The Dutch firm stands out from rivals Nikon Corp. and Canon Inc. because it’s alone in having mastered an approach known as extreme ultraviolet lithography, which is needed for the manufacture of the next generation of chips. Lithography is the process by which circuit patterns are etched onto silicon wafers, and the EUV process will allow the printing of circuits that are more than 10 times smaller than the current standard.QuicktakeHow Chinese Technology Grew to Rival Silicon ValleySo you can see why China would be particularly interested in using ASML’s equipment. Although the country is a hub of electronics manufacturing, much of that is simply assembling iPhones, laptops, smart speakers and the like. The underlying tech is often imported, including some $200 billion-worth of semiconductors each year.Beijing wants to reduce that dependence on imports by investing $150 billion over a decade in an effort to take the lead in technology design and manufacturing. Access to machines made by ASML will be essential to achieving that. By the end of next year, as much as half of TSMC’s revenue will depend at least partly on some EUV processes, according to Bloomberg Intelligence analyst Masahiro Wakasugi. That could be $18 billion worth of chips. TSMC said on Thursday that its deployment of EUV machines was on schedule, advancing at a similar rate to earlier technologies, as it reported earnings that exceeded analyst expectations.While it could take a decade and more than one EUV machine for Chinese firms such as Semiconductor Manufacturing International Corp. to rival that, that is clearly the long-term goal. (SMIC is reportedly the company that placed the order at the heart of the current spat.)Dutch newspaper Het Financieele Dagblad reported last year that ASML was the target of theft by a rival with ties to the Chinese state, though the company later said that any “suggestion that we were somehow victim of a national conspiracy is wrong.” Chief Executive Officer Peter Wennink surely doesn’t want to lose China’s business: It’s ASML’s fastest-growing market.What makes the Dutch move so remarkable is that the U.S. can only unilaterally block sales abroad if components or R&D contributions originating domestically exceed 25% for the relevant product. Here, it seems to have succeeded in leaning on the Dutch government to prevent the sale even though, according to press reports, ASML’s extreme ultraviolet lithography machine doesn’t meet that test. An even greater risk would be that other important suppliers of underlying technology follow suit, whether under U.S. duress or not.(Adds TSMC comment on latest technology in fourth-to-last paragraph.)\--With assistance from Tim Culpan.To contact the author of this story: Alex Webb at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast an up to 45% spike in January-March revenue and raised its capex plan for the year, betting robust demand for 5G smartphones would dial up profits at the world's top contract chipmaker. The promising outlook from TSMC - a proxy for global tech demand given it has clients like Apple, Qualcomm and Huawei - comes as a strong uptake of 5G smartphones is fuelling an overall recovery in the global smartphone market that has shrunk for the past three years. TSMC said it expects revenue over January-March to reach $10.2 billion-$10.3 billion, versus $7.1 billion a year ago.
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. projected quarterly revenue well above analysts’ estimates, brushing aside concerns that tighter U.S. sanctions on No. 2 customer Huawei Technologies Co. could dampen its business.Shares in the world’s largest contract chipmaker have slid two straight days on worries that Washington will tighten existing restrictions on exports to Huawei, potentially curtailing shipments from TSMC and other non-American firms. If the U.S. does move ahead, any disruption would be short-term because TSMC could replace some of the lost Huawei business with orders from other customers thanks to the 5G boom, Chairman Mark Liu said during a post-earnings conference with analysts.TSMC has recruited Intel’s former chief lobbyist to gauge the temperature in Washington and lessen any fallout from U.S.-Chinese tensions, including policies involving Huawei.“We are prepared to deal with this export control regulation,” Liu said, adding that if any new controls were introduced, TSMC would carefully “evaluate product by product eligibility of export.”But some analysts judged Liu’s assessment too rosy. TSMC may be over-estimating the ability of other customers to pick up the slack were its Huawei business to be curtailed, Bernstein analyst Mark Li said. “The forecast, according to TSMC, assumes ‘business as usual’. The company sees any disruption will be short-lived and for example commented that smaller telco infrastructure suppliers can quickly pick up the shortfall if Huawei can’t deploy 5G as planned. We find that too optimistic,” Li said.TSMC reported better-than-expected net income of NT$116 billion ($3.9 billion) in the December quarter. Gross margins came in at 50.2%, also exceeding estimates. It forecast revenue of $10.2 billion to $10.3 billion in the March quarter, surpassing estimates for $9.6 billion.Apple Inc.’s main chipmaker is banking that the rollout of fifth-generation enabled smartphones in 2020 will galvanize growth. Semiconductor orders from Huawei account for 10% of its revenue, according to Bloomberg data. TSMC’s robust results demonstrate how the world’s largest contract chipmaker is investing in technology to safeguard its market lead over Samsung Electronics Co. and Intel Corp. TSMC spent almost $15 billion on technology and capacity in 2019 and is prepared to shell out as much as $16 billion this year, anticipating the advent of fifth-generation smartphones. The company, a barometer for the tech industry thanks to its heft and place in the supply chain, has said the advent of 5G will result in more chips in devices than before.Capex growth this year will mainly come from an increase in specialty technology including CMOS sensors -- which turn light into digital signals for smartphone cameras -- and power management chips, and packaging technology, according to Chief Financial Officer Wendell Huang.TSMC previously reported record fourth-quarter revenue of NT$317.2 billion. Chief Executive Officer C. C. Wei has expressed hopes that the emergence of 5G, the foundation of future technologies from automated factories and smart homes to faster consumer electronics, will underpin its business in coming years.In addition to 5G, TSMC’s counting on growing demand for high-performance computing. Positive comments from Micron Technologies Inc. and Samsung suggest the global semiconductor market is poised for a gradual recovery on the back of demand related to 5G, artificial intelligence and automotive applications.(Updates with details on preparation for Huawei curbs)To contact the reporters on this story: Debby Wu in Taipei at email@example.com;Gao Yuan in Beijing at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Taiwan Semiconductor Manufacturing, the world’s largest contract chipmaker, said it was ready to deal with potential new US export controls, which it predicted would have only a temporary impact on its business. Mr Liu urged the US to remember that TSMC was a “massive” business. Huawei from buying US supplies last year, TSMC has emerged as the main guarantor for the Chinese company’s continued access to the high-end semiconductors Chinese manufacturers cannot produce themselves.
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast an up to 45% spike in January-March revenue and raised its capex plan for the year, betting robust demand for 5G smartphones would dial up profits at the world's top contract chipmaker. The promising outlook from TSMC - a proxy for global tech demand given it has clients like Apple, Qualcomm and Huawei [HWT.UL] - comes as a strong uptake of 5G smartphones is fuelling an overall recovery in the global smartphone market that has shrunk for the past three years. TSMC said it expects revenue over January-March to reach $10.2 billion-$10.3 billion, versus $7.1 billion a year ago.
Ant would prefer we call it a “techfin” firm as its growing clout in Chinese financial services has landed it under the nose of cautious regulators of that industry — one of the reasons its IPO has been delayed for years. Ant dominates mobile payments in China, where scanning QR codes to pay for everything from a bowl of noodles to bike-shares to movie tickets is the norm. Its app includes one of the world's largest money market funds.
Stock futures suggest Wall Street will push higher into record territory after the U.S. and China sign preliminary trade pact; Morgan Stanley and Charles Schwab report earnings; Apple buys an AI startup; XPO Logistics exploring alternatives for its business units.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The so-called phase-one U.S.-China trade pact has done little to allay fears about Huawei Technologies Co.’s prospects and those of its key suppliers, two analyst research reports suggest.Morgan Stanley and Credit Suisse warned of the likely trickle-down impact of U.S. sanctions on Huawei should they remain in place or be tightened even further. Restrictions could slow the pace of China’s fifth-generation networking rollout, which would affect Taiwan Semiconductor Manufacturing Co. and fellow technology and manufacturing providers, one report said.Tensions over tech are likely to remain as the Trump administration considers steps to further limit the ability of American companies to supply Huawei. This comes even as Treasury Secretary Steve Mnuchin said on Wednesday he doesn’t “view Huawei as a chess piece” in continuing negotiations with China.Tech Industry Shudders as U.S. Weighs New Limits on Huawei SalesMorgan Stanley analysts forecast Huawei’s total smartphone volume at 200 million this year, a decline of 40 million from 2019. Without regaining access to the Google Mobile Services suite on Android, Huawei’s “smartphone shipments would be close to zero in Western Europe,” said the analysts. That compares to shipments of 29 million units in 2018 and 21 million devices through the first three quarters of 2019 for the region, they added. The European market had served as a catalyst for Huawei’s consumer division, which was itself the biggest growth engine for the Chinese company.Closer controls on Huawei would also impact its key suppliers. Chipmaking giant TSMC, which counts Huawei as its second largest customer after Apple Inc., relies on its semiconductor orders for 10% of revenue, according to Bloomberg data. Credit Suisse wrote that TSMC would lose a chunk of that business in the event of increased sanctions, though the hit would be partially offset by other customers like Apple and Advanced Micro Devices Inc. expanding their orders. TSMC reports earnings later today, hoping to shake off a two-day decline in share price amid added uncertainty about U.S. pressure.Some Asian tech names stand to benefit under new supply chain scenarios, Samsung Electronics Co. most notable among them. It’s expected to soak up the Western Europe smartphone demand that would emerge without competitive Huawei devices on the market, Morgan Stanley said. Credit Suisse echoed the positive sentiment, adding that the Samsung LSI chipmaking division would “benefit supplying the mid-tier Qualcomm chips and Exynos family” in the absence of Huawei from key global markets.Read more: TSMC Hires Ex-Intel Lobbyist to Deal With U.S.-China Tensions\--With assistance from Cindy Wang.To contact the reporter on this story: Vlad Savov in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Edwin Chan at email@example.com, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TSMC, the world's biggest contract chipmaker and a key Apple supplier, is boosting its 2020 capex plans amid a rebound in smartphone sales triggered by the rollout of 5G networks.
On Thursday, January 16 , Taiwan Semiconductor (NYSE: TSM ) will release its latest earnings report. Check out Benzinga's preview to understand the implications. Earnings and Revenue Analysts covering ...
Taiwan Semiconductor's (TSM) fourth-quarter results are likely to have benefited from robust technology portfolio and new product introductions.
(Bloomberg) -- With tech earnings looming this month, investor attention is zeroing in on some of Asia’s largest chipmakers. And there’s reason for it: the sector’s influence on the region’s stocks has kept on growing.Taiwan Semiconductor Manufacturing Co. is set to report fourth-quarter results Thursday, potentially hitting record revenue of more than $10.2 billion and its highest quarterly gross margins since 2018, Bloomberg Intelligence analyst Charles Shum said in a Jan. 7 preview. TSMC shares are up more than 4% this month and touched an intraday high Tuesday.“Many of TSMC’s customers such as Huawei, Qualcomm and Mediatek are quickening their pace of adopting cutting-edge processes to prepare for the launch of 5G mobile devices,” Shum said in the report.Rival Samsung Electronics Co. releases its final results Jan. 30. Preliminary figures announced earlier this month showed quarterly earnings beat estimates as global chip prices have shown signs of escaping a protracted slump.The two chipmaking behemoths are the No. 3 and 4 largest stocks in the MSCI Asia Pacific Index and also key contributors to the growing influence of technology names in the gauge. The industry now accounts for almost 15% of the regional gauge, up from 12% at the start of 2019. Internet giants Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have the highest weightings in the index.Managers of emerging-market stocks have increased their exposure to semiconductor shares to a record 7.3%, making of it the largest overweight by sector, according to Steven Holden, an analyst at Smartkarma Holdings Pte. Taiwan and South Korean equity overweights also hit a peak, with TSMC among the most favorite companies, it said.Despite all the positives, one potential question mark for TSMC remains Huawei Technologies Co. Tighter export restrictions on the Chinese company by the U.S. would make some of TSMC’s technologies unshippable to Huawei, analysts led by Mark Li at Sanford C. Bernstein wrote in a Jan. 8 note. While the actual impact on revenue is expected to be in the low single digits and TSMC will be able to pivot to other customers, a short-term impact is “inevitable as share shifts and supply-chain realignment take time.”But overall, the outlook for the semiconductor industry is positive on growth drivers including new 5G technology adoption, internet of things momentum, robust data center demand and even new game console launches, Credit Suisse analysts Randy Abrams and Haas Liu said in a Jan. 13 report.“Stocks are recovering from the prior decade’s de-rating and returning to pre-crisis valuations that can sustain,” the analysts said. The main risk? With higher valuations after a strong 2019 rally, any disappointment from product cycle ramps or macro shocks could lead to potential short-term pullbacks, they added.Stock-Market SummaryMSCI Asia Pacific Index up 0.2%Japan's Topix index up 0.3%; Nikkei 225 up 0.7%Hong Kong's Hang Seng Index down 0.3%; Hang Seng China Enterprises down 0.4%; Shanghai Composite down 0.1%; CSI 300 down 0.2%Taiwan's Taiex index up 0.5%South Korea's Kospi index up 0.3%; Kospi 200 up 0.4%Australia's S&P/ASX 200 up 0.8%; New Zealand’s S&P/NZX 50 up 0.7%India's S&P BSE Sensex Index little changed; NSE Nifty 50 little changedSingapore's Straits Times Index up 0.5%; Malaysia’s KLCI down 0.7%; Philippine Stock Exchange Index down 0.5%; Jakarta Composite up 0.2%; Thailand's SET little changed; Vietnam's VN Index up 0.2%S&P 500 e-mini futures little changed after index closed up 0.7% in last session(Adds Smartkarma comments in sixth paragraph, stock-summary section)\--With assistance from Cormac Mullen, Abhishek Vishnoi and Moxy Ying.To contact the reporter on this story: Eric Lam in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Anstey at email@example.com, Lianting Tu, Cecile VannucciFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
After almost two years of back-and-forth tariffs and a lot of tough talk, a phase-one trade deal between the U.S. and China is officially in the books. In the deal, China has agreed to stop forcing American companies to transfer technology as a condition of doing business there and to crack down on intellectual property thefts. Yahoo Finance's Dan Howley talks to Julie Hyman, Adam Shapiro and Andy Serwer as well as Oliver Pursche of Bruderman Asset Management.