To The Moon

US Market Summary The stock market is not holding up well. All 3 major indexes have broken below their 50-day moving averages. (see below) US 3 Composite Indexes - Past One Month performance On Wed (17 Apr) when market closed: DJIA: -0.12% (-45.66 to 37,753.31). At its worst level since late January 2024. S&P 500: -0.58% (-29.20 to 5,022.21). At its worst level in 2 months. Nasdaq: -1.15% (-181.88 to 15,683.37). Fell below the 16k level, its worst in 2 months. What Happened to Semiconductors? Chip stocks were big losers Wed, 17 Apr 2024. $ASML Holding NV(ASML)$ has become the poster scapegoat as a result of its disappointing earnings and guidance. ASML Q1 2024. Company missed its sales forecast, although it insists its on-target for its FY2024 outlook. Net sales. Came in at EUR 5.29 billion (US$5.62 billion) vs expected EUR 5.39 billion. Net sales fell -21.6% YoY. Net profit. Came in at EUR 1.22 billion vs expected EUR 1.07 billion. Net income dropped -37.4% YoY. Net bookings (for ASML machinery). Fell by -4% YoY, totalling EUR 3.6 billion for Q1 2024. Compared to Q4 2023, it has fallen by -66.67%, a huge slump. Owing to the business’s cyclical nature, market has factored “the dip” in their estimates, after a stellar Q4 2023 earnings. This explained why market was disappointed (& fell) after ASML’s results were announced. Stock Price Movement. On Wednesday, ASML tumbled -7.1% to close at $907.61 per share. It is gapping below its 50-day line and the lows of its flat base. YTD, it bottomed on 04 Jan 2024 at $700.29 per share. YTD, it peaked on 07 Mar 2024 per share at $1,047.39 per share, before March 2024 CPI report spooked the market 3 days later. In contrast, $Taiwan Semiconductor Manufacturing(TSM)$, handed in a stellar report card for its Q1 2024 earnings. TSM Q1 2024. Net revenue: Came in at NT$592.64 billion (US$18.87 billion), vs. NT$582.94 billion expected. Revenue rose by +16.5% YoY. Net income: Came in at NT$225.49 billion (US$7.18) vs. NT$213.59 billion expected. Income rose by +8.9% YoY. Q2 2024 Outlook. TSMC expects Q2 Revenue to be between US$19.6 billion & US$20.4 billion. This will be a growth range of +3.87% and +8.11% gain QoQ. Stock Price Movement. On Wed, 17 Apr 2024 - TSM stock price slipped a little -0.55% to $139.03 per share. It is facing some selling pressure after rising earlier in the week. Analysts think TSM could be forming a new trading pattern with a potential buy price of $158.40. Some might even buy sooner; at a price it reached earlier this month ($148.43). Like it or not, TSM's results & guidance will be key for AI chip leaders $NVIDIA Corp(NVDA)$, $Broadcom(AVGO)$ and $ARM Holdings Ltd(ARM)$. With a stronger than expected Quarterly earnings, will TSM be able to pull the Semiconductor stocks higher - just as ASML had dragged the Semiconductor stocks down ? Must Read: Click on below titles to access. Give a like & help to Repost ok. Thanks. $AAPL: Bounce Back or Bust This Week ? TSLA : Witness Start of the Great Descend ? CPI Surge Outpaces PPI = Earnings Profits ? Do you think TSM stock price will rise today towards $158.40 as predicated? Do you think TSM will be able to pull all semiconductor stocks higher this week? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents