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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (136272)	1/17/2023 3:58:39 PM
From: Goose94	Respond to of 203926

Taiwan Semiconductor Manufacturing Company (TSM-NY) top pick from Kim Bolton on BNN.ca Market Call Tuesday December 17th @ 1200ET TSMC is the undisputed market leader of semiconductor foundries, with 50.5 per cent market share. TSMC maintains it leadership in the foundry market with advanced process technologies and huge economies of scale that competitors can’t come close to matching. TSMC focuses solely on manufacturing customers’ products and ensures that it never competes directly with its customers by choosing not to design, manufacture or market any semiconductor products under its own name. Its position is solidified by its continued capital investment. It announced $100 billion in 2021-2023 capital expenditures. During its second quarter 2022 analyst meeting in mid-July, TSMC acknowledged it expects to see an inventory correction cycle into the first half of 2023. TSMC is guiding high single digits of semi-compound market revenue growth in the next five years for the semi (ex-memory) industry, with dollar content growth to be mid to high single digits. TSMC commented in its last analyst meeting that the inventory correction cycle is expected to last into the first half of 2023. TSMC holds three overseas expansion projects in Japan, mainland China and the U.S. as of now. Current dividend yield of about two per cent. TSMC executives addressed concerns about a prolonged chip crisis at its earnings announcement last week, forecasting a small annual revenue growth and the beginnings of a recovery in the latter half of the year. Markets had been bracing for a far weaker outlook. Executives reiterated the company’s plans to ramp up next-generation two-nanometer chips to meet demand for more powerful and energy-efficient silicon. The company began bulk production of advanced three-nanometer chips last month. Steady migration to next-generation process nodes, such as N3 in 2023, N2 in 2025, new specialty manufacturing capacity and 3D-packaging technology, ensure the company’s long-term domination of the contract chip-making market and could help its long-term gross margin stay in the 53-60 per cent range, far above peers. TSMC has potential over the medium term, but this is a stock for long-term investors that are willing to wait for the value to be unlocked over a time frame of three to four years.