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Volkswagen AG (VWAPY)

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29.30+0.80 (+2.81%)
As of 11:44AM EDT. Market open.
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Neutralpattern detected
Previous Close28.50
Bid0.00 x 0
Ask0.00 x 0
Day's Range29.15 - 29.40
52 Week Range11.94 - 29.85
Avg. Volume243,992
Market Cap164.643B
Beta (5Y Monthly)1.51
PE Ratio (TTM)14.71
EPS (TTM)1.99
Earnings DateN/A
Forward Dividend & Yield0.57 (2.00%)
Ex-Dividend DateOct 01, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Europe Car Sales Surge 63% in March, Erasing Earlier Decline

    Europe Car Sales Surge 63% in March, Erasing Earlier Decline

    (Bloomberg) -- Europe’s auto sales soared last month from a depressed level a year ago, making up for a dismal start to the year even as virus-related restrictions persisted in key markets.New car-registrations rose 63% in March, the European Automobile Manufacturers’ Association said Friday. The gains erased an early-year decline to leave sales up 0.9% for the quarter.While automakers are benefiting from easy comparisons to a year ago, when countries were locking down to contain the spread of Covid-19, last month’s sales stack up well even relative to pre-pandemic. The 1.39 million vehicles registered was the highest since June 2019.Carmaker shares advanced on sales regaining momentum and Daimler AG reporting better-than-expected earnings for the first quarter. The Mercedes-Benz maker cited strong sales in all major regions.The Stoxx Europe 600 Automobiles & Parts Index climbed 1.5% in early trading, led by gains for Volkswagen AG, parts maker Continental AG and Daimler.Consumers returning to dealerships are a welcome development for the industry after months of Europe’s car market lagging behind rising sales seen in China and the U.S. Carmakers’ concerns have shifted dramatically from demand to supply issues, with the global chip shortage hampering production for the likes of VW, Stellantis NV and Renault SA.“Only the critical global supply situation for various semiconductor categories currently has a limiting effect on this upswing,” VW Chief Executive Officer Herbert Diess said at the Hannover Messe trade fair Thursday.March tends to be a seasonally strong time of year for Europe’s auto industry, so registrations were still about 13% below what the industry averaged for the month in the decade before the pandemic, according to the ACEA.While Italy -- the epicenter of Europe’s initial virus outbreak -- saw sales rise almost 500% last month, they remained 12% below 2019 levels as virus-related measures curb economic activity.Carmakers have been coping with restrictions by moving sales processes online and taking advantage of government subsidies for electric vehicles. Economic forecasters have said the continent’s growth prospects rest on a vaccination program that started slowly but has begun to accelerate.Even as many areas slowly return to normal, carmakers are benefiting from health concerns about using public transport or ride-hailing services during the pandemic.Among Europe’s five largest markets, sales rose 29% and 21% in Italy and France in the first quarter. Registrations fell 15% in Spain, 12% in the U.K. and 6.4% in Germany.The industry witnessed historic consolidation during the quarter, with France’s PSA Group merging with Italian-American carmaker Fiat Chrysler to form Stellantis. About 47% of vehicles registered in the first three months of the year were VW or Stellantis models.(Updates with shares, Daimler earnings in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • TSMC Lifts Targets After Warning Chip Crunch May Hit 2022

    TSMC Lifts Targets After Warning Chip Crunch May Hit 2022

    (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. warned that a global shortage of semiconductors across industries from automaking to consumer electronics may extend into 2022, prompting the linchpin chipmaker to lift targets on spending and growth for this year.The world’s largest contract chipmaker said Thursday that its auto industry clients can expect chip shortages to begin easing next quarter, alleviating some of the supply disruptions that have forced the likes of General Motors Co. and Ford Motor Co. to curtail production. But overall deficits of critical semiconductors will last throughout 2021 and potentially into next year, Chief Executive Officer C.C. Wei told analysts on a conference call.TSMC now expects investments of about $30 billion on capacity expansions and upgrades this year, up from a previous forecast for as much as $28 billion, Chief Financial Officer Wendell Huang said. It foresees sales in the June quarter at a better-than-projected $12.9 billion to $13.2 billion, driving full-year revenue growth of 20% in dollar terms -- ahead of the “mid-teens” growth predicted in January.But the increased spending means its target for gross margins this quarter came in below expectations at 49.5% to 51.5%, spurring concerns about the longer-term impact on profitability. TSMC’s shares slipped 1.8% in Taipei on Friday, their biggest intraday loss in about three weeks.“The capex boost is a mixed bag with better long-term growth but lower margins,” Morgan Stanley analysts wrote.What Bloomberg Intelligence SaysLarge depreciation costs from new 5-nm production equipment may lower gross margin by 2%, while slower-than-expected production efficiency improvement implies that gross margin will continue to contract, possibly to under 50% in 2Q.- Charles Shum and Simon Chan, analystsClick here for the research.TSMC joins a growing number of industry giants from Continental AG to Renesas Electronics Corp. and Foxconn Technology Group that warned of longer-than-anticipated deficits thanks to unprecedented demand for everything from cars to game consoles and mobile devices. While Taiwan’s largest chipmaker has kept its fabs running at “over 100% utilization,” the firm doesn’t have enough capacity to satisfy all its customers and it has pledged to invest $100 billion over the next three years to expand.“We see the demand continue to be high,” Wei said. “In 2023, I hope we can offer more capacity to support our customers. At that time, we’ll start to see the supply chain tightness release a little bit.”Read more: See How a Chip Shortage Snarled Everything From Phones to CarsSemiconductor shortages are cascading through the global economy. Automakers like Ford, Nissan Motor Co.and Volkswagen AG have already scaled back production, leading to estimates for more than $60 billion in lost revenue for the industry this year. The situation is likely get worse before it gets better: a rare winter storm in Texas knocked out swaths of U.S. production, while a fire at a key Japan factory will shut the facility for a month. Rival chipmaker Samsung Electronics Co. warned of a “serious imbalance” in the industry.With major American carmakers and other gadget suppliers facing a prolonged shortage of chips, U.S. President Joe Biden has proposed $50 billion to bolster semiconductor research and manufacturing at home. The initiative could aid TSMC’s plan to build a cutting-edge fab in Arizona this year that could cost $12 billion.TSMC is “happy” to support chip manufacturing in the U.S., though research and development and the majority of production will continue to remain in Taiwan, executives said on Thursday. They reiterated that construction of their plant in Arizona will begin this year.Read more: Why Shortages of a $1 Chip Sparked Crisis in Global EconomyNet income for the January-March period climbed 19% to NT$139.7 billion ($4.9 billion), beating the average analyst estimate, buoyed by demand for high-performance computing (HPC) equipment and a milder seasonal effect on smartphone demand. Gross margin for the quarter eased to 52.4% from 54% in the three months prior, due in part to relatively lower levels of utilization and exchange-rate fluctuations. First-quarter revenue rose 17% to NT$362.4 billion, according to a company statement last week.The company said Thursday it now expects to be able to achieve the higher end of its compound annual growth rate target of 10% to 15% for the five years to 2025, citing its investment spending plans.“TSMC’s statement that the chip crunch may spill into 2022 will smooth over concerns that chip demand may fall on overbooking later this year and further boost investors’ confidence in the overall semiconductor demand in the long run,” said Elsa Cheng, an analyst at GF Securities.Shares of TSMC have more than doubled over the past year.TSMC’s most-advanced technologies continued to account for nearly half of revenue in the March quarter, with 5-nanometer and 7-nanometer processes contributing 14% and 35% of sales, respectively. By business segment, its smartphone business amounted for about 45% of revenue, while HPC increased to more than a third, reflecting sustained demand for devices and internet servers even as economies start to emerge from the pandemic.“We are seeing stronger engagement with more customers on 5-nm and 3-nm, in fact the engagement is so strong that we have to really prepare the capacity for it,” Wei said. Smartphones and HPC will be the main drivers for demand of 5-nm, which will contribute around 20% of wafer revenue this year.TSMC Is On Fire. Just Beware of the Flames: Tim Culpan(Updates with share action from the fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Electric vehicles may be 'the biggest change in the 100-year plus history' of the auto industry: Expert
    Yahoo Finance

    Electric vehicles may be 'the biggest change in the 100-year plus history' of the auto industry: Expert

    Like it or not, it will soon be the end of the road for the internal combustion engine. By 2025, UBS predicts that 20% of all new cars sold globally will be electric.