TSMC Continues to Ramp 7-nm Process; Shares Drift Further Into Overvalued Territory
Taiwan Semiconductor Manufacturing delivered mixed second-quarter results. Even though the top line was within guidance, management cut its full-year revenue forecast and now expect sales in U.S. dollars to increase by high single digits, previously 10%. The firm attributed the decreased forecast to expected weakness in demand from the cryptocurrency mining market. Shares traded as much as 4.5% higher on the news. While management delivered positive third-quarter guidance, the market reaction is...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.
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