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Taiwan Semiconductor Manufacturing Co. (TSM) shares surged over 4% following a Morgan Stanley upgrade, with analysts projecting an average price target of $216.58, indicating a potential 20.80% upside. The current consensus recommendation is "Outperform," supported by positive AI investment trends from major tech companies. GuruFocus estimates TSM's GF Value at $205.63, suggesting a 14.7% upside from the current price of $179.28.
[Source: Bloomberg]
NVIDIA's stock fell about 4% as semiconductor shares dropped following news that Huawei is set to trial its powerful Ascend 910D AI processor, posing a challenge to NVIDIA's chips. The Nasdaq Composite, S&P 500, and Dow Jones Industrial Average also declined ahead of major tech earnings. New U.S. export restrictions may impact NVIDIA's revenue by up to $5.5 billion, while other chipmakers like AMD, Broadcom, and Micron also experienced losses.
NVIDIA's stock fell about 4% as semiconductor shares dropped following news that Huawei is set to trial its powerful Ascend 910D AI processor, posing a challenge to NVIDIA's chips. The tech-heavy Nasdaq, S&P 500, and Dow Jones also declined amid concerns over new U.S. export restrictions that could impact NVIDIA's revenue by up to $5.5 billion. Other semiconductor companies, including AMD, Broadcom, and Micron Technology, experienced similar declines as traders anticipate upcoming earnings reports from major AI and cloud-computing firms.
Wall Street analysts maintain a consensus price target of $212 for Taiwan Semiconductor Manufacturing, indicating a potential upside of 28.3%. Despite recent volatility, institutional investors have increased their holdings, reflecting confidence in the stock's future. With gross margins at 57.4% and a return on invested capital of 22.3%, the company remains a strong contender in the semiconductor sector, even as it faces geopolitical challenges.
Huawei is testing its new Ascend 910D AI chip, aiming to compete with Nvidia's H100 processor despite ongoing U.S. sanctions that have hindered its semiconductor production. The company plans to ship over 800,000 chips this year, but faces significant supply chain challenges. Meanwhile, Nvidia anticipates a $5.5 billion financial impact from recent U.S. restrictions on its H20 chip sales in China.
TSMC has found its chips in Huawei's AI gear, raising concerns over potential sanctions violations due to third-party intermediaries. Despite halting shipments and notifying authorities, the company faces challenges in tracing its semiconductors through complex supply chains. As demand for AI chips surges, compliance risks overshadow competition in the semiconductor industry.
Apple shares surged over 6% following the U.S. government's announcement of tariff exemptions on electronics, benefiting other tech firms like Nvidia and Dell. Despite this rally, uncertainty looms as President Trump indicated new tariffs on semiconductors are forthcoming, highlighting their strategic importance in U.S.-China trade relations. The exemptions, covering $385 billion in imports, mark a significant shift from previous protectionist policies, allowing companies to avoid steep price increases and adjust supply chains more flexibly.
Taiwan Semiconductor Manufacturing Co (TSMC) may face a fine exceeding $1 billion due to a U.S. export control investigation linked to chips supplied to China-based Sophgo, which were allegedly used in Huawei's AI processor. This unprecedented penalty highlights intensified enforcement of technology transfer restrictions, as TSMC navigates complex geopolitical pressures while being crucial to both U.S. and Chinese tech ecosystems. The case underscores challenges in monitoring supply chains and the potential impact on semiconductor costs amid deteriorating trade relations.
Commerce Secretary Howard Lutnick is urging companies benefiting from federal semiconductor subsidies to boost their investments in the US, seeking tens of billions more without increasing the $52 billion from the 2022 Chips and Science Act. This push follows TSMC's commitment of an additional $100 billion to US facilities, with potential consequences for companies that do not expand their plans. Lutnick is also looking to enhance the Chips Act’s 25% tax credit, which would require Congressional approval, while delays in fund disbursements have left firms like Wolfspeed Inc. in limbo.
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