This weekly newsletter pulls together summaries of the top ten most-read Insights across Tech Hardware and Semiconductor on Smartkarma.
Receive this weekly newsletter keeping 45k+ investors in the loop
1. TSMC (2330.TT; TSM.US): No Clients Have Reacted to the Tariff Changes Since Trump Reacted so Quickly
- Revenue expected to be USD$28.4-29.2 bn (+13% QoQ/38% YoY), with gross margin projected to be 57-59% and operating profit margin at 47-49%.
- Tariffs still have uncertainties, so our current capability to share is expected to maintain 24-26% YoY.
- Taiwan Semiconductor (TSMC) – ADR (TSM US) plans to build 6 Fabs in Arizona, with 2nm being the main focus there, hence 30% will be allocated there.
2. Taiwan Tech Weekly: TSMC 1Q25 Results & The 2nm Frontline; Mediatek Vs. TSMC Valuation; PC 1Q25 Data
- TSMC’s Next Leap: 1Q25 Earnings Ahead and the 2nm Frontline
- Is the Valuation Divergence Justified? Mediatek Vs TSMC Valuation Compared
- PC 1Q25: 5% YoY Growth but Shipments Inflated Ahead of US Tariffs. Dream of a Refresh Cycle Continue
3. TSMC. Full Steam Ahead Despite Tariff Threats & China Bans. For Now.
- TSMC offered a surprisingly robust outlook for the current quarter with revenues expected to rise 13% QoQ to $28.8 billion at the midpoint, their highest ever quarterly revenue.
- No change to the previous full year 2025 guidance of mid-20% growth in US$ terms
- It’s likely too early to see the full impact of tariffs and further China restrictions in TSMC’s outlook, but the second half will likely be a different story
4. Taiwan Dual-Listings Monitor: TSMC Premium at High-End; ChipMOS & CHT Multi-Year High Short Interest
- TSMC: +21.5% Premium; Consider Shorting the Spread at This Level
- ChipMOS: +3.2% Premium; Good Level to Consider Shorting the Spread: Local Shares’ Short Interest at Multi-Year Highs
- CHT: +1.3% Premium; Good Level to Consider Shorting the Spread; ADR Short Interest at Multi-Year Highs
5. TSMC (2330.TT; TSM.US): Key Questions for TSMC 1Q25 Earnings Conference
- Will Taiwan Semiconductor (TSMC) – ADR (TSM US) work on Intel Corp (INTC US)‘s Foundry Services (IFS) and invest about 20% share?
- Taiwan Semiconductor (TSMC) – ADR (TSM US) Chairman and CEO Dr. CC Wei has promised to further invest USD$100bn to establish capacity in the US; what’s the reasoning behind this?
- Given the current US tariff issue, what is the best investment advice?
6. Intel Offloads Altera Majority Stake At Steep Discount
- Intel yesterday announced that it was selling a 51% stake of its Altera business to Silver Lake for $4.46 billion
- The deal values Altera at $8.75 billion, roughly half what Intel paid to acquire the company over a decade ago
- Altera’s CEO, Intel veteran Sandra Rivera, will be replaced with a new CEO, Raghib Hussain, formerly president of Products and Technologies at Marvell
