$Arm(ARM.US) was up +4% pre-market, opened directly -5%, lost -10% that day. Bought Intel, AMD, both small losses. This is a real Waterloo😢
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TSMC: Overly high expectations + Capex exceeding expectations + Forward-looking gross margin guidance revised downward
Actual metrics refer to revenue of $40.2B (NT$1.27T) · +36% YoY · +12% QoQ at the upper end of guidance, slightly exceeding net profit of NT$706.56B (~$22B) · +77.4% YoY · +23.4% QoQ, hitting a new high for five consecutive quarters. GAAP EPS (ADR) $4.31 (exceeding $0.37) NT$27.25. Gross margin of 67.7% is at the upper end of guidance but lower than the aggressive buyer expectation of 69%+. Global foundry market share ~72%—
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