$Taiwan Semiconductor Manufacturing(TSM)$ Good morning. This time I didn't wake up smiling; I couldn't sleep after napping for hours after landing.
Let me repeat: Gross Margin 66.25%, Operating Margin 58.10%, Net Profit Margin 50.48%, calculated after filling in the spreadsheet.
The guidance for Q2 is: Gross Margin 65.5-67.5%, Operating Margin 56.5-58.5%, Revenue $39-40.2bn.
Prices for certain chemicals and gases are likely to increase in Q2, but it's too early to gauge the impact as the war isn't over yet. Efforts will be made to keep energy supply stable in Taiwan. LNG is secured for April, May, and almost June, with July under planning. Not a near-term problem.
2026 revenue growth is now expected to be above 30%, versus the previous view of close to 30%. To meet strong AI demand, N3 capacity will increase, and N2 has entered volume production.
Ignore all the noise, it scares no one! Let the chickens keep crossing the road, no need to ask why.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
