In general, companies reporting good earnings should expect ...

In general, companies reporting good earnings should expect stock price to go higher and vice versa. However, there may be cases where stock price comes down even with good earnings. It could be that the escalating stock price may have taken into consideration the positive results leading up to earnings. In this case, once earnings are reported and meet market expectation, the stock price may fall as traders liquidate the stock. This was what I experienced with TSM in Q3. Positive earnings yet stock price came down. If we have done our financial analysis and have conviction on the company, I think we should not let the quarterly earnings affect us. TSM did not fail me in recent earnings