TSMC Reports Q2 Results
Jul 20, 2024
Recently reviewed TSMC reported their Q2 earnings this week. Results looked good: revenue was up 40% (33% in U.S. dollars), with stable gross margins and solid cash flow. Sub 7 nanometer products accounted for 2/3rds of revenue, magnifying the firm's competitive advantages (only Samsung competes in this space). High performance computing applications (HPC) - driven by AI demand - led the way, growing 28% quarter-over-quarter and comprising 52% of revenue. The only down note was a drop in the exchange rate from New Taiwanese dollars, which is the only reason I'm dropping the fair value a few bucks to $181 from a previous $184.
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Watch List
| RDDT | 10.23% |
| NTNX | 33.26% |
| CRWD | 67.38% |
| SE | 32.25% |
| SNOW | 12.13% |
| APPF | 6.73% |
| PINS | -21.37% |
vs. Fair Value Estimates
Buy List
| SEMR | -36.45% |
| TSM | -37.46% |
| GOOG | -49.51% |
| NYAX | -57.29% |
| MSFT | -28.86% |
| ODD | -30.78% |
| ASR | -26.66% |
| FLYW | -35.81% |
| HRMY | -54.32% |
| YOU | -33.54% |
| ABNB | -29.41% |
| MELI | -27.78% |
| ADBE | -38.87% |
vs. Fair Value Estimates
Hold List
| VTEX | -17.12% |
| ZETA | -20.17% |
| CELH | 40.60% |
| TOST | 17.90% |
| CPNG | -11.25% |
| HIMS | -8.80% |
| PAYC | -18.77% |
| MNDY | 10.68% |
| GLBE | -20.17% |
| ZS | 28.50% |
| V | -3.09% |
| ADSK | -0.07% |
| NOW | -0.03% |
| FTNT | -2.41% |
| TEAM | -2.35% |
vs. Fair Value Estimates