This article is compiled by the semiconductor industry vertical and horizontal (id: icviews)
In the year of industry recovery, TSMC , which has the absolute advantage of advanced processes, will make big profits again.
TSMC has become a "thousand-dollar stock" with a three-level jump in net worth. As of the end of May, founder Zhang Zhongmou has the highest net worth. If the shareholding does not change after retirement, the net worth exceeds NT$100 billion. Chairman Wei Zhejia, former chairman Liu Deyin and director Zeng Fancheng They hold 6,393 shares, 12,913 shares and 29,400 shares respectively, with the value of their holdings reaching 6.4 billion, 13 billion and 29.6 billion yuan.
TSMC’s stock price has been soaring due to the booming demand for AI chips. It is worth noting that Wei Zhejia pledged 1,600 holdings in 2022 and added more than a hundred shares of his own stock backhand, which is admirable for his foresight and courage at the time.
Former Chairman Liu Deyin gave wisdom advice to small shareholders to "buy TSMC stocks" at this year's TSMC shareholders' meeting, which drove the stock price to soar from 839 yuan at the shareholders' meeting on June 4 to 1,005 yuan on July 4, a huge rise in one month. 19.78%. Liu Deyin also holds 12,913 stocks, and the value of his stock holdings is approaching 13 billion yuan. Founder Zhang Zhongmou held 125,000 shares before his retirement. If one share was not sold, the market value would be 125.7 billion yuan. In addition, TSMC director Zeng Fancheng’s net worth is even more astonishing. He personally holds 29,473 shares and has a market value of 29.6 billion yuan.
TSMC has a long history. This year, the three major legal entities have bought 430,000 units, with strong recovery power. In addition, the company will hold a press conference on the 18th, and the outlook is optimistic. It is understood that the production capacity of advanced processes such as 3/5nm continues to be fully loaded. In addition, in addition to price adjustments next year, 2nm will be added to mass production, and cowos production capacity will continue to be opened.
price increase
On June 17, according to Taiwanese media "Business Times" reported that when production capacity is in short supply, TSMC will increase prices for 3nm and 5nm advanced processes and advanced packaging.
Among them, TSMC’s 3nm foundry quotation may increase by more than 5%, and advanced packaging’s annual quotation next year will increase by 10%-20%.
Currently, all TSMC's 3nm production capacity has been covered by Nvidia , amd, Intel , Qualcomm , MediaTek, Apple and Google. Supply exceeds demand, and orders are expected to be full until 2026.
TSMC’s 5nm series nodes also continue to receive AI semiconductor orders, and the capacity utilization rate is also high.
Some analysts said that prices of TSMC’s advanced process nodes, including 3nm and 5nm, will be adjusted. 3nm orders are fully loaded with strong utilization rates, and 5nm will see a similar situation driven by AI demand.
TSMC 3nm family members include n3, n3e, n3p, n3x, n3a, etc. Among them, n3e went into mass production in the fourth quarter of last year, targeting AI accelerators, high-end smartphones, data centers and other applications; n3p is expected to be mass-produced in the second half of this year and will be used in mobile devices, consumer electronics , Netcom, etc.; n3x and n3a are Customized for high-speed computing and automotive customers.
As TSMC’s 3nm supply becomes increasingly scarce, customers led by Qualcomm have also begun to increase prices.
Taiwan media "Business Times" recently quoted supply chain news as saying that Qualcomm Snapdragon 8gen4 is built with TSMC n3e, which has increased by 25% compared with the previous generation's quotation, and does not rule out triggering subsequent price increases. However, the industry pointed out that the price increase is reasonable because compared to 5nm, the cost per wafer of 3nm is about 25% more expensive, and this increase does not take into account factors such as the overall number of wafers produced and the design architecture.
According to wccftech, Qualcomm is not the only one to increase prices. Nvidia and AMD also plan to increase the prices of popular AI hardware.
Prior to this, Tianfeng International Securities analyst Ming-Chi Kuo issued a report stating that the price of the mass-produced sm8750 (snapdragon8gen4) in the second half of this year is approximately 25%-30% higher than the current flagship chip sm8650 (snapdragon8gen4), reaching US$190-200.
Analysts pointed out that the main reason for the price increase is the use of TSMC’s latest and higher-cost n3e process.Benefiting from AI boosting demand for high-end mobile phones, SM8750 shipments are expected to grow by single digits higher than SM8650. Not long ago, Nvidia CEO Huang Jen-Hsun said during the Taipei Computex that TSMC’s price is too low and fails to fully reflect its huge contribution to the global technology industry.
TSMC’s revenue in May increased by 30% year-on-year
TSMC announced May performance data. The consolidated revenue for the month was NT$229.62 billion, a year-on-year increase of 30.1%, and a month-on-month decrease of 2.7%. Cumulative revenue in the first five months reached NT$1.058 trillion, a year-on-year increase of 27%.
TSMC’s revenue remains at a high level. The legal person pointed out that the demand for artificial intelligence (AI) and general servers has improved, driving the second quarter performance outlook. This area is also the main source of revenue contribution for TSMC.
Not only is the demand for AI chips strong, but driven by the recovery in demand from cloud service providers (CSPs) in China and the United States, general server demand is also picking up simultaneously. Benefiting from the strong demand in AI fields such as server GPU, ASIC, and FPGA, TSMC shareholders believe that the company has huge growth potential in AI applications.
q2 performance exploded, a 10% increase?
Stimulated by strong demand for AI chips, Bloomberg is actively optimistic about TSMC’s second-quarter revenue, which is expected to be 10% higher than market expectations.
As the second quarter of this year comes to an end, the market is looking forward to the revenue of major AI chip supply chain manufacturers, especially the revenue of wafer foundry TSMC.
Before the Q2 financial report was announced, Bloomberg analysts pointed out that TSMC’s annual revenue growth has the opportunity to be more than 10%, citing the huge market demand for its advanced manufacturing processes.
Affected by the AI wave and good performance expectations, TSMC’s stock price has been rising steadily. As of press time, the price is quoted at $182, once again approaching the previous high.
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