TSMC Closes 2016 on a High Note, but 2017 Looks to be More Challenging; Shares Overvalued
Taiwan Semiconductor Manufacturing reported strong fourth-quarter results, bolstered by chips for Apple’s iPhone 7 and Nvidia’s latest graphics processing units. While TSMC exhibited meaningful double-digit revenue growth in 2016, we expect 2017 to be more challenging from both growth and profitability perspectives. We forecast slowing smartphone growth attributed to greater saturation and longer replacement cycles, partially offset by greater silicon content across all devices. TSMC’s upcoming ...Taiwan Semiconductor Manufacturing is a foundry in the semiconductor industry which engages mainly in the manufacturing, selling, packaging, testing and computer-aided design of integrated circuits and other semiconductor devices and the manufacturing of masks. Co. also engages in the researching, developing, designing, manufacturing and selling of solid state lighting devices and related applications products and systems, and renewable energy and efficiency related technologies and products. Co.'s products include logic semiconductors, mixed-signal/radio frequency semiconductors, CMOS image sensor semiconductors and high voltage semiconductors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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