If the CPI doesn't cause any trouble tonight, the semiconductor sector should stabilize. TSMC's March revenue surged by 34%.

After reviewing TSMC's earnings flash report, here are some notes:

TSMC's Q1 revenue grew by 16.5%, exceeding market expectations;

In March alone, revenue surged 34%, with a month-on-month increase of 7.5%, marking the fastest growth rate in over a year. March's performance was indeed eye-popping.

TSMC forecasts at least a 20% revenue growth this year (2023 saw a decline).

Most months in 2023 recorded declines:

Back on January 18th, when Q4 results were announced, it was clear that the industry was rebounding significantly. The stock price was around $100 at the time and peaked at $157 in just over two months.

Q1 revenue reached NT$592.64 billion (approximately $18.54 billion), compared to $16.72 billion in the same period last year. Earlier forecasts for Q1 revenue ranged between $18 billion and $18.8 billion.

Citigroup noted in a report that driven by strong AI demand, TSMC's Q2 revenue is expected to grow 4% quarter-on-quarter, though gross margins might slightly dip due to earthquake impacts. They raised their target price by 28% to NT$950.

Currently, TSMC's (Taiwan stock) share price is NT$815:

Following the news, TSMC's U.S. pre-market shares briefly surged 1.5%.

In 2024, five investment banks have raised their target prices for TSMC (U.S. stock, current price $145.4):

TSMC will release its Q1 earnings report on April 18th.

The stock with the highest five-year growth on the island, outperforming even NVIDIA (Alchip 38x, NVIDIA 17x, TSMC 2x), is this one: