TSMC's market value is high and foreign investment is optimistic

On February 20th, the foundry leader Taiwan Semiconductor Manufacturing Co., Ltd.'s stock price rose by 2 yuan yesterday to close at 109 yuan, hitting a new high in 12 years, with a market value of more than 2.82 trillion yuan, setting a new high for the company's market value. Foreign investors clamored for TSMC’s advantage in advanced processing at 28nm, which will continue to 20nm. Paris Securities breathes in one breath and raised TSMC’s target price from 112 yuan to 130 yuan, which is the highest target price given by foreign investors. Dan Lee Securities pointed out that if Apple launches a low-priced iPhone, every 100 million units will be expected to contribute 5% of TSMC’s full-year revenue.

In addition, TSMC announced last night that it continued to dispose of shares held by SMIC, with an estimated profit of HK$36.37 million (approximately NT$140 million). TSMC currently holds 947 million shares of SMIC shares, holding about 3% of the shares.

The Paris Securities Report pointed out that because TSMC is the biggest beneficiary of 28nm, with the advancement of the process into 20nm, TSMC is expected to continue its advantage and become the winner under the 20nm demand.

Morgan Stanley said that if Apple really launches a low-priced iPhone on the mainland, it will help TSMC to take orders. So for every 100 million low-cost iPhones, it may contribute to TSMC's full-year revenue growth of 5%, so reiterated TSMC added code rating.

ITRI ​​is also optimistic about the development of the semiconductor industry this year and believes that the semiconductor industry will bottom out in the first quarter and will grow quarter by quarter in the second and third quarters.

Deutsche Securities also said that TSMC’s demand for orders at 28nm is strong, leading position, market share expansion, and average unit price will increase. As TSMC’s sales growth in the second quarter is expected to grow by 13% to 14%, TSMC ranks TSMC as Preferred.