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
| CRWD | 19.27% |
| VEEV | 14.53% |
| SNPS | 44.69% |
| WDAY | 7.03% |
| SNOW | -20.18% |
| SE | 7.10% |
| ENLT | -12.28% |
| MA | 4.00% |
| PINS | 6.24% |
| MSFT | -20.85% |
| CMG | 60.70% |
| GOOG | 28.94% |
| TSM | -9.56% |
| GTLB | 26.93% |
| SMAR | 9.67% |
vs. Fair Value Estimates
Buy List
| ODD | -34.06% |
| ASR | -39.38% |
| CELH | -42.80% |
| HIMS | -31.29% |
| PAYC | -45.38% |
| HRMY | -46.12% |
| YOU | -39.38% |
| ABNB | -28.30% |
| TEAM | -28.68% |
vs. Fair Value Estimates
Hold List
| FLYW | -7.68% |
| TOST | -15.37% |
| CPNG | -0.72% |
| MNDY | 27.75% |
| GLBE | -23.98% |
| ZS | -2.84% |
| V | -15.31% |
| ADSK | -4.27% |
| NOW | 19.00% |
| MELI | -5.99% |
| FTNT | -18.49% |
| ADBE | -1.91% |
vs. Fair Value Estimates