To The Moon

TSMC recovered almost 20% from the bottom around 2-3 weeks ago! 

I see a few positive catalyst that may drive the share price higher:

1. TSMC reported its Oct 22 Revenue. Revenue +56.3% yoy, +1% mom. This is far from the bearish sentiments that Wallstreet had! 

2. Apple is TSMC's largest client and accounts for 25% of TSMC revenue, so it's important to pay attention to Apple. Sir Bahamut attended Foxconn's 3Q result and many analysts are asking about the situation in Zhengzhou. Long story short, the situation in Zhengzhou was over-exaggerated by Western media and the production capacity is stable now. Moreover, this is a supply issue not a demand issue! A reminder iPhone 14 Pro is running on a new chip based on TSMC 4nm chip technology! Be is Foxconn China or Foxconn India or Pegatron or Luxshare doing the iPhone assembly, so long as iPhone is selling well, TSMC chip will be in demand! Already we are selling news that iPhone is selling hot on Singles Day today!

3. Nvda has announced it is exporting a new advanced chip for China that has met US Chip export control! Previously there were so much fear that Nvda and TSMC will lose revenue over China's export ban. Looks like the situation is elevated for now.

4. And yes not forgetting the relief rally from US CPI last night!

Market is forward-looking by 6-12 months, so very possibly it will overlook TSMC's under-utilisation rate for its fab. TSMC is progressing well onto its N3 ramp up and N2 development. Quite excited for its future.

@Daily_Discussion @TigerStars