In today’s briefing:
- TSMC: Trading as if Valuations Don’t Matter
- Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China
- TSMC Shares Surge 11% as Q3 Earnings Soar on AI Demand, Revenue Up 39% YoY
- Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung’s Strength Diluted Against TSMC’s Focus
- Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD
- Tech Supply Chain Tracker (19-Oct-2024): ATE Energy boosts green energy & marine projects in PH.
- TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers
- Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!
- Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers
- Accenture plc: How Is Its Approach Towards Strategic Bolt-On Acquisitions Working Out? – Major Drivers
TSMC: Trading as if Valuations Don’t Matter
- Shares of Taiwan Semiconductor (TSMC) – ADR (TSM US) surged on a robust results and raised revenue outlook, driven by strength in AI related demand.
- Markets are overlooking the fact that many AI companies and solutions are unnecessary, unsustainable and will lead to blowups and consolidation.
- We make the case for why TSMC is over valued and investors will likely get better entry levels.
Tech News This Week. ASML, TSMC, Intel, SiC Capacity, MCU in China
- The price of ASML EUV machine is increasing as thruput (wafer / hour) is increasing.
- TSMC 3nm is fully booked in 2025. Here is the list of clients / chips.
- SiC and MCU over-investments in China? Very likely. China is limiting SiC investments.
TSMC Shares Surge 11% as Q3 Earnings Soar on AI Demand, Revenue Up 39% YoY
- TSMC reported Q3 revenue of NT$759.69 billion, marking a 39% year-over-year increase, surpassing the guidance range of NT$724-750 billion, driven by strong AI demand.
- The company’s net income reached NT$325.3 billion, up 54% from last year and exceeding LSEG’s estimate of NT$300.2 billion, reflecting strong operational performance.
- TSMC’s gross margin improved to 57.8%, an increase of 4.6% from Q2, highlighting enhanced profitability from advanced chip production amid growing AI applications.
Taiwan Tech Weekly: IPhone 16 Sales Surge in China; Samsung’s Strength Diluted Against TSMC’s Focus
- Hua-Where? Hua-Who? Report: Apple’s iPhone 16 Pro & Pro Max Sales Surge 44% in China; A Strong Start Amidst Competition
- Samsung Under Siege: Facing Major Challenges Across Verticals as TSMC Tightens Foundry Grip
- TSMC 3Q24: Guidance Remains Strong; Explains Why AI Demand Not Overhyped; Stay Long… TSMC is Working with All AI Innovators
Bangkok Bank – BBL Sees 29% Higher NPLs YTD and Core Manufacturing & Commercial Loans -4% YTD
- Where there are many other areas of interest in Asia, globally, the figures just out for Bangkok Bank are incredible to us, not in a positive way.
- The bank has seen its NPLs rise from THB71bn to THB85bn to THB92bn from 4Q23 to 2Q24 to 3Q24, putting YTD growth at 29%
- The bank has more than 1/4 of its loans in manufacturing & commercial where loan balances are down 4.0% YTD and down 4.3% QoQ
Tech Supply Chain Tracker (19-Oct-2024): ATE Energy boosts green energy & marine projects in PH.
- ATE Energy is leading green energy and marine projects in the Philippines to support sustainability efforts and protect the environment. Taiwan is seeking to import green energy from the Philippines to meet its goal of achieving net-zero emissions by 2050.
- The US faces challenges in expanding nuclear power as part of its efforts to reach net-zero emissions targets. Japan and Taiwan are teaming up to produce the Lean3 EV, promising a compact design and high efficiency for urban areas.
- The new iPad mini features advanced Apple Intelligence technology with four major upgrades for top-tier performance and functionality. Joo-Sun Choi is returning to Samsung’s DS division after a successful term as SDC president. Taiwan is focusing on low-carbon power to drive industrial growth, while ESL adoption is on the rise with retailers like Simple Mart Taiwan and Walmart leading the way in a retail revolution for lower prices.
TEGNA Inc.: Leveraging Advanced Advertising Platforms & Focus on Premion! – Major Drivers
- TEGNA Inc. reported their Q2 2024 financial results, reflecting a mix of challenges and opportunities which present a balanced view for potential investors.
- In this earnings review, a detailed assessment of the company’s performance and strategic initiatives provides insights into its emerging trends and operational focus.
- During the quarter, TEGNA noted a decline in total company revenue compared to the previous year, which primarily stemmed from decreases in subscriber counts and national advertising revenues.
Dana Inc. – The Latest Acquisition Target Heating Up Wall Street!
- In a notable development, Dana Incorporated (NYSE:DAN) has recently emerged as a potential acquisition target, sparking rumors across Wall Street.
- The company’s stock rose by 0.5%, following reports of takeover interest as mentioned in a Betaville “uncooked” alert.
- The timing of this speculation coincides with a strong earnings performance for Q2 2024, where Dana posted $2.7 billion in sales and a solid $244 million in adjusted EBITDA.
Five9 Inc.: An Insight Into Its Competitive Advantage & Go-To-Market Strategy! – Major Drivers
- In the latest earnings discussion of Five9, Chairman and CEO Mike Burkland relayed a mixed set of results, presenting a blend of successes and challenges.
- The company achieved an annual revenue run rate exceeding $1 billion, primarily driven by a 21% year-over-year growth in LTM Enterprise subscription revenue.
- Alongside, the adjusted EBITDA margin improved sequentially to 17% of revenue, contributing robustly to a strong LTM operating cash flow of $126 million, which is 13% of revenue.
Accenture plc: How Is Its Approach Towards Strategic Bolt-On Acquisitions Working Out? – Major Drivers
- Accenture recently reported its fourth quarter result for fiscal 2024, showcasing a mixture of strengths and setbacks.
- As a multinational professional services company known for its capabilities in digital, cloud, and security, Accenture’s continued focus on embracing technological transformations, particularly Generative AI (GenAI), and adapting to market demands are pivotal points observed from the earnings report.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
