In today’s briefing:
- TSMC. Betting Big Is Nothing New
- GEM Weekly (21 Apr 2023): China GDP and Activity Data, Indonesia Rates; Alibaba, TSMC, Ant Financial
- Weekly Stock Bullfinder – Week of 4/24
TSMC. Betting Big Is Nothing New
- Q1 2023 revenues of $16.72 billion, at the bottom end of the guided range, down 16.1% sequentially and 4.8% compared to the year ago period
- TSMC pegged Q2 2023 as their trough quarter of the current semiconductor downturn
- 2023 CapEx of $34 billion at the midpoint, while flat sequentially, represents yet another in a long series of big bets on the future of semiconductors
GEM Weekly (21 Apr 2023): China GDP and Activity Data, Indonesia Rates; Alibaba, TSMC, Ant Financial
- The Global Emerging Markets Weekly provides a summary of the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.
- Macro data points: Chinese GDP, Industrial production, and retail sales; Indonesian interest rates
- Companies mentioned:Alibaba Group (9988 HK), Ant Financial Services Group (6688 HK), Taiwan Semiconductor (TSMC) (2330 TT)
Weekly Stock Bullfinder – Week of 4/24
- Earnings Season Thus Far- Meanwhile Mixed Economic Messages Earnings season picks up this week with the technology heavyweights like Alphabet, Microsoft, Amazon, and Meta are all set to report their results.
- During the upcoming week, 180 S&P 500 companies (including 14 Dow 30 components) are scheduled to report results for the first quarter.
- Overall, 18% of the companies in the S&P 500 have reported actual results for Q1 2023 to date.
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