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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.31

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Dec 26 4:00 PM EST

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To: Johnny Canuck who wrote (56220)	1/11/2023 12:57:18 AM
From: Johnny Canuck	1 Recommendation Read Replies (2) of 69291

Johnny: This suggests consumer demand might have been weak during Xmas or inventories already in the channel still are an issue and have not been worked through. This does suggest caution at least for this quarter. While there may be niche semiconductor sectors that are immune for now a cautious stance is necessary. It can get worst before better. >>>>>>>>> Taiwan Semiconductor's December Revenue Slumps Sequentially As China's COVID Chaos & Macro Headwinds Weigh Anusuya Lahiri Tue, January 10, 2023 at 11:28 AM GMT+1·1 min read Taiwan Semiconductor Manufacturing Company Ltd's (NYSE: TSM) December revenue of NT$192.56 billion declined 13.5% month-over-month. The revenue grew by 23.9% Y/Y. Revenue for January through December 2022 totaled NT$2.26 trillion, up by 42.6% Y/Y. TSMC's Q4 revenue grew 43% Y/Y to NT$625.5 billion ($20.6 billion), marking its first quarterly revenue miss in two years, signaling the global decline in electronics demand is starting to catch up with the chip giant, Bloomberg reports. TSMC's Q4 revenue missed the consensus of NT$636 billion. The exclusive supplier of Apple Inc's (NASDAQ: AAPL) Silicon chips for iPhones and Macs slashed capital spending plans by about 10% to $36 billion in 2022, and some analysts have warned it may further delay expenditure on expansion in 2023. Apple had to trim output estimates after COVID-related chaos at a plant in Zhengzhou, probably affecting TSMC's production. In December, TSMC started mass production of next-generation chips and increased its investment in Arizona to $40 billion. Although the global economic slowdown has diminished consumer demand, TSMC and its customers still expect the long-term trend in electronics demand to keep going up, the report adds. Price Action: TSM shares closed higher by 2.87% at $80.31 on Monday.

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