Is TSMC blessed with AI growth?
backgrounds
・TSMC has an overwhelming market share in the global foundry market and is leading the industry in terms of scale, technology, customer service, and execution capabilities. While the smartphone and PC market, which is in demand, is stable, it is expected that it will benefit from long-term growth trends in artificial intelligence (AI) in the long run.
・The downturn in the foundry sector this year provides an attractive entry point because it is thought that current predicted PER does not sufficiently capture the high quality of the company's business model.
・Taiwan Semiconductor Manufacturing (TSMC), the world leader in semiconductors, is rapidly increasing production of semiconductors for artificial intelligence (AI).
・Production capacity for important processes, such as putting new plants into operation, will be increased by 2 times the current situation in 2024. As the global semiconductor market is sluggish, we will capture demand for generative AI, which will be responsible for the next growth.
・「AI is drastically changing people's lives and jobs, bringing huge opportunities to the semiconductor industry」。
Data (2023) and predictions
・According to TrendForce, TSMC's share in the third party foundry market in the fourth quarter of 202361%It was.
・The company also appears to be recovering from the recent slump in the chip market. What is income$69 billionSo, it decreased by 5% compared to the same period last year. As a result, comprehensive net profit decreased 22% from the same period last year to 27 billion dollars.
・Nevertheless, analysts' income increased 22% this year, and even more next yearExpected to increase by 20%Doing it. This optimistic mood is that stock prices are higher than last year55% increaseI made it.
Therefore, the current rate of return is approximately 26 times. This is not low for the company, but it has an advantage over the market return rate of other chip stocks. $NVIDIA(NVDA.US$There is a possibility that TISC's stock price will continue to rise as production volume rises due to demand, etc.
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182589606 : I use it as an indicator for NVIDIA.
Personally, I think it's a long time, but I'm worried because it's a company that is easily used to explain geopolitical risks.