TSMC's Unchanged Capex Budget Mildly Disappointing, Morningstar Says -- Market Talk

Dow Jones04-22

0241 GMT - TSMC's unchanged 2024 capex budget is mildly disappointing and implies irrational scrambling for more capacity is past its peak, as some customers may push orders into 2026 instead of receiving shipments in late 2025, Morningstar analyst Phelix Lee says in a research note. However, "TSMC's disciplined approach to capital spending in 2024-and possibly in the next few years-reduces risks of oversupply, and allows more flexibility in cutting-edge research to maintain its leadership," the analyst says. Despite some impact from the earthquake and higher electricity costs in Taiwan, the analyst reckons TSMC's higher utilization rate could mitigate these headwinds. Shares are flat at NT$750.00. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

April 21, 2024 22:41 ET (02:41 GMT)

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However, \"TSMC's disciplined approach to capital spending in 2024-and possibly in the next few years-reduces risks of oversupply, and allows more flexibility in cutting-edge research to maintain its leadership,\" the analyst says. Despite some impact from the earthquake and higher electricity costs in Taiwan, the analyst reckons TSMC's higher utilization rate could mitigate these headwinds. Shares are flat at NT$750.00. (sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 21, 2024 22:41 ET (02:41 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TSMC's Unchanged Capex Budget Mildly Disappointing, Morningstar Says -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTSMC's Unchanged Capex Budget Mildly Disappointing, Morningstar Says -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-22 10:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>0241 GMT - TSMC's unchanged 2024 capex budget is mildly disappointing and implies irrational scrambling for more capacity is past its peak, as some customers may push orders into 2026 instead of ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2237443622.USD","symbol_name":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429671259","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429671259","pubTimestamp":1713753660,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0241 GMT - TSMC's unchanged 2024 capex budget is mildly disappointing and implies irrational scrambling for more capacity is past its peak, as some customers may push orders into 2026 instead of receiving shipments in late 2025, Morningstar analyst Phelix Lee says in a research note. However, \"TSMC's disciplined approach to capital spending in 2024-and possibly in the next few years-reduces risks of oversupply, and allows more flexibility in cutting-edge research to maintain its leadership,\" the analyst says. Despite some impact from the earthquake and higher electricity costs in Taiwan, the analyst reckons TSMC's higher utilization rate could mitigate these headwinds. Shares are flat at NT$750.00. 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However, \"TSMC's disciplined approach to capital spending in 2024-and possibly in the next few years-reduces risks of oversupply, and allows more flexibility in cutting-edge research to maintain its leadership,\" the analyst says. Despite some impact from the earthquake and higher electricity costs in Taiwan, the analyst reckons TSMC's higher utilization rate could mitigate these headwinds. Shares are flat at NT$750.00. 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