Beijing Just Aimed at Taiwan Semiconductor Manufacturing Company (NYSE:TSM).
Here’s Why the Bull Case Still Wins On July 21, the Financial Times reported that China’s Ministry of Commerce is considering implementing export controls that would bar Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and QUALCOMM Incorporated (NASDAQ:QCOM) from manufacturing chips based on designs from Huawei, Alibaba, and ByteDance
Such headlines are likely to hit a foundry stock hard. In the case of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), however, the Bull case remains strong as always. Here’s the how and why.
The Bull Case Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s Q2 net profit went up 77% year-over-year, reaching a record high of T$706.6 billion ($22 billion). Beating the consensus estimates, the increase marks the ninth straight quarter of double-digit growth. Revenue climbed 36% to NT$1.27 trillion.