The share price of TSMC (2330) woke up from a sleepy lion. With international funds, it bought 52,700 sheets in a single week to help out. Last week, it rose 7.26%. The stock price quickly counterattacked from the difficult situation of the 500 yuan defense war to 532 yuan. According to foreign analysts, the attitude of international funds this time seems to be firmer than when TSMC’s stock price rebounded in late March, increasing the chance of the stock price breaking through the curse price.
After Buffett’s Berkshire Company sold more than 80% of its holdings in the fourth quarter of 2022, and TSMC’s stock price plummeted nearly 4% after hearing the shocking education, when the latest 13F report revealed that Berkshire had cleared the remaining TSMC ADRs, the market The reaction was not only extremely calm, TSMC’s stock price was not even affected on the 16th, and it bucked the trend and recovered the 500 yuan mark, which met the expectations of foreign analysts. Later, it relied on international funds to turn back and increase the momentum to start this wave of stock price counterattack.
The weighted index rose by 672 points last week, or 4.34%. It was all thanks to the heavy-weight stocks’ joint attack. In addition to the self-operated increase of nearly 50 billion yuan in a single week, rewriting the record, the international funds turned around and made a big contribution. The sweep of Taiwanese stocks was 77.8 billion yuan. TSMC alone received a large purchase of 52,700 pieces of international funds. From mid-April to mid-May, there is a headwind for the chips adjusted in the band.
Daiwa Capital Securities believes that terminal sales in the consumer electronics field are still weak, and the destocking speed of the semiconductor industry chain is slower than expected. The market may readjust the expectation of TSMC’s operating recovery in the second half of the year. The upward cycle will start in the first quarter of 2024 or the first quarter of 2024. The long-term structural optimism for TSMC remains unchanged, and the investment rating of “buy” is maintained.
In the short term, TSMC will be driven by the new application processor of the iOS platform in the second half of the year to increase the volume of 3nm process. Revenue will grow 17% over the first half.
further reading
The post-520 market power group has become a popular fried chicken
Dongyang Benye’s profits go up and the legal person calls the target price to this figure
Foreign capital swept 14 financial stocks and 4 of them rose by double digits this year
The post Foreign capital came to support TSMC and fight Buffett’s curse again appeared first on Business Times.