People in affected areas urged to evacuate as quake registering 7.5 magniture occurred off the coast of Sanriku The strength of the earthquake has been revised up to 7.5 and the biggest waves due to the tsunami are expected in Iwate, Aomori and Hokkaido prefectures, authorities said. Reuters reported that prime minister Sanae Takaichi said the government had set up an emergency task force and urge...
People in affected areas urged to evacuate as quake registering 7.5 magniture occurred off the coast of Sanriku The strength of the earthquake has been revised up to 7.5 and the biggest waves due to the tsunami are expected in Iwate, Aomori and Hokkaido prefectures, authorities said. Reuters reported that prime minister Sanae Takaichi said the government had set up an emergency task force and urged citizens in the affected areas to evacuate to safety. Continue reading...
(RTTNews) - Asian stocks ended mostly higher on Monday, even as regional gains remained modest somewhat amid uncertainty surrounding the second round of diplomatic talks between the United States and Iran.
(RTTNews) - Asian stocks ended mostly higher on Monday, even as regional gains remained modest somewhat amid uncertainty surrounding the second round of diplomatic talks between the United States and Iran.
kynny/iStock via Getty Images Share prices of Taiwan Semiconductor Manufacturing ( TSM ) or TSMC have risen 8.2% since my last report , outperforming the S&P 500. Earlier in April, the company reported financial results that exceeded estimates by more than $400 million on revenues and by $0.16 on earnings per share. In this report, I discuss TSMC’s Q1 2026 earnings, the outlook for 2026, and an up...
kynny/iStock via Getty Images Share prices of Taiwan Semiconductor Manufacturing ( TSM ) or TSMC have risen 8.2% since my last report , outperforming the S&P 500. Earlier in April, the company reported financial results that exceeded estimates by more than $400 million on revenues and by $0.16 on earnings per share. In this report, I discuss TSMC’s Q1 2026 earnings, the outlook for 2026, and an update to my price target. TSMC Puts Efficiency On Display As Capacity Is Constrained TSMC (Earnings Presentation) TSM’s revenues grew 6.4% sequentially and 40.6% to $35.9 billion. Gross margins increased 3.9 points sequentially and 7.4 points to 66.2%. This is driven by the ramp-up of 3nm node sales. I believe this is a very strong result, given that geographical diversification is compressing the margins somewhat. That geographical margin headwind is not only driven by learning curves and production ramp-ups, but those international facilities have a lower mature gross margin as they are simply not as optimized as the facilities and logistics in Taiwan. Operating margins increased 4.1 points sequentially and 9.6 points year-on-year to 58.1%. Equivalent wafer shipments grew 5.4% sequentially and 28.1% year-on-year. It shows that the growth in revenues is not solely driven by volumes, but also by a better revenue mix. Quarter 7nm 5nm 3nm 1Q23 38% 62% 0% 2Q23 40% 60% 0% 3Q23 32% 63% 5% 4Q23 27% 60% 13% 1Q24 28% 59% 13% 2Q24 27% 58% 15% 3Q24 26% 56% 18% 4Q24 25% 55% 20% 1Q25 24% 55% 21% 2Q25 23% 54% 23% 3Q25 21% 55% 24% 4Q25 20% 52% 28% 1Q26 17% 49% 34% Click to enlarge The sales in the 7nm and below category account for 74% of all sales. Within that category, we see that the 7nm and 5nm node shares declined by 3 points to 17% and 49%, while the 3nm node sales grew to 34% of the 7nm or smaller category. In the prior quarter, we already saw a substantial increase in the sales share, and that continued in Q1. The company already expected the 3nm node margins to be accretive in 20...
kynny/iStock via Getty Images Share prices of Taiwan Semiconductor Manufacturing ( TSM ) or TSMC have risen 8.2% since my last report , outperforming the S&P 500. Earlier in April, the company reported financial results that exceeded estimates by more than $400 million on revenues and by $0.16 on earnings per share. In this report, I discuss TSMC’s Q1 2026 earnings, the outlook for 2026, and an up...
kynny/iStock via Getty Images Share prices of Taiwan Semiconductor Manufacturing ( TSM ) or TSMC have risen 8.2% since my last report , outperforming the S&P 500. Earlier in April, the company reported financial results that exceeded estimates by more than $400 million on revenues and by $0.16 on earnings per share. In this report, I discuss TSMC’s Q1 2026 earnings, the outlook for 2026, and an update to my price target. TSMC Puts Efficiency On Display As Capacity Is Constrained TSMC (Earnings Presentation) TSM’s revenues grew 6.4% sequentially and 40.6% to $35.9 billion. Gross margins increased 3.9 points sequentially and 7.4 points to 66.2%. This is driven by the ramp-up of 3nm node sales. I believe this is a very strong result, given that geographical diversification is compressing the margins somewhat. That geographical margin headwind is not only driven by learning curves and production ramp-ups, but those international facilities have a lower mature gross margin as they are simply not as optimized as the facilities and logistics in Taiwan. Operating margins increased 4.1 points sequentially and 9.6 points year-on-year to 58.1%. Equivalent wafer shipments grew 5.4% sequentially and 28.1% year-on-year. It shows that the growth in revenues is not solely driven by volumes, but also by a better revenue mix. Quarter 7nm 5nm 3nm 1Q23 38% 62% 0% 2Q23 40% 60% 0% 3Q23 32% 63% 5% 4Q23 27% 60% 13% 1Q24 28% 59% 13% 2Q24 27% 58% 15% 3Q24 26% 56% 18% 4Q24 25% 55% 20% 1Q25 24% 55% 21% 2Q25 23% 54% 23% 3Q25 21% 55% 24% 4Q25 20% 52% 28% 1Q26 17% 49% 34% Click to enlarge The sales in the 7nm and below category account for 74% of all sales. Within that category, we see that the 7nm and 5nm node shares declined by 3 points to 17% and 49%, while the 3nm node sales grew to 34% of the 7nm or smaller category. In the prior quarter, we already saw a substantial increase in the sales share, and that continued in Q1. The company already expected the 3nm node margins to be accretive in 20...
Malaysia’s busiest container port has started refusing Middle East-bound cargo unless shipping lines can guarantee prompt pickup, in one of the clearest signs yet that the Gulf crisis is working its way past oil and into the everyday trade that moves across Asia. Longer transit times, missed sailings and sharply higher insurance premiums are now rippling across the region’s logistics chain, with w...
Malaysia’s busiest container port has started refusing Middle East-bound cargo unless shipping lines can guarantee prompt pickup, in one of the clearest signs yet that the Gulf crisis is working its way past oil and into the everyday trade that moves across Asia. Longer transit times, missed sailings and sharply higher insurance premiums are now rippling across the region’s logistics chain, with wine, spirits and other time-sensitive goods acting as an early indicator of disruption that analysts...
Mitul Kotecha, head of foreign exchange and macro strategy Asia at Barclays, discusses the outlook for the dollar. "If our base case of a de-escalation does occur, and we do see a continued de-escalation, we see some sort of move towards a peace deal and an off ramp, then that should continue to put pressure on the dollar," Kotecha tells Bloomberg Television. "But this is a near-term view in the n...
Mitul Kotecha, head of foreign exchange and macro strategy Asia at Barclays, discusses the outlook for the dollar. "If our base case of a de-escalation does occur, and we do see a continued de-escalation, we see some sort of move towards a peace deal and an off ramp, then that should continue to put pressure on the dollar," Kotecha tells Bloomberg Television. "But this is a near-term view in the next few months," he adds. "Ultimately, we still like the dollar." (Source: Bloomberg)