【TSMC】Fighting ASML! Will 'Equipment Price Hike' Crash Stock Price? Unveiling the Truth Behind the Wafer King's Rejection of Purchase Orders!

【TSMC】Fighting ASML! Will 'Equipment Price Hike' Crash Stock Price? Unveiling the Truth Behind the Wafer King's Rejection of Purchase Orders!

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Now let's take a look at today's Taiwan stock market!

The weighted index opened low and closed high today, ending with a drop of 6.61 points at 45,624.98, with a turnover of 900.839 billion.

Observing the fund movements of the three major institutions today, foreign investors sold 48.334 billion NT dollars, investment trusts bought 8.549 billion NT dollars, and proprietary traders sold 3.357 billion NT dollars. The three major institutions collectively sold 43.143 billion NT dollars. Among them, foreign investors and proprietary traders have been selling for ten consecutive days, proprietary traders have shifted from buying to selling, and investment trusts have been buying for seventeen consecutive days, buying a total of 173.575 billion NT dollars.

U.S. stocks were mixed, with the U.S. June Producer Price Index (PPI) rising 4.7% year-on-year, below market expectations, indicating that inflationary pressures are continuing to ease. Currently, the interest rate futures market still expects one rate cut this year, but the timing has been pushed back to December, further easing market concerns about the Federal Reserve's monetary policy shift. The Dow Jones Industrial Average rose 150 points, and the Nasdaq Index rose 162 points. However, the semiconductor sector performed weakly, with the Philadelphia Semiconductor Index falling more than 2%. The market focus shifted to the development of China's memory industry. Longxi Storage (CXMT) is reportedly about to go public and plans to expand production capacity through fundraising, raising market concerns about increased global memory supply, intensified price competition, and pressured gross margins. (MU-US) Micron Technology, (SKHY-US) SK Hynix, and (SNDK-US) SanDisk saw their stock prices plummet by more than 8% simultaneously, dragging down the overall performance of semiconductor stocks. (AAPL-US) Apple, (MSFT-US) Microsoft, and other large-cap tech stocks performed relatively stably, but (NVDA-US) NVIDIA and (AMD-US) AMD, among other AI concept stocks, saw their upward momentum slow.

Affected by the correction of U.S. semiconductor stocks and the weakness of Asian stock markets, Taiwan's stock market today opened under pressure, once plummeting by more than 600 points. Electronic heavyweight stocks fell across the board, with memory, ABF substrates, panels, and silicon wafer groups correcting simultaneously. This includes (2408-TW) Nanya Technology, (3037-TW) Xintec, (8046-TW) Nan Ya Plastics, (3481-TW) Innolux, (2409-TW) AU Optronics, (6488-TW) Global Unichip, and (3532-TW) TSC, which performed relatively weakly during the session. However, with the entry of low buying orders, the index quickly narrowed its decline and even turned positive at one point, ending the day with a drop of 6.61 points at 45,624.98, with a turnover of 900.839 billion. This shows that the market's downward support is still in place, and the bullish structure has not been broken. Funds have turned towards sectors with themes and defensive characteristics. (6770-TW) Powertech Technology benefited from the earnings call releasing positive news such as price increases for mature processes and improved gross margins, and its stock price rose against the trend, becoming the focus of the semiconductor sector. On the other hand, telecom, bicycle, and high-dividend concept stocks also attracted safe-haven funds, reflecting that market funds are continuing to rotate rather than completely withdrawing from the stock market. Short-term volatility mainly comes from market watchfulness before the earnings call, rather than a major change in corporate fundamentals. Therefore, after consolidation, there is still a chance to return to the bullish track. There are still several important events this week that will move the market, including the number of initial unemployment claims in the United States, June retail sales data, and the University of Michigan consumer confidence index, which will further influence market expectations for the Federal Reserve's rate cut timeline. In addition, the Asia Biotech Expo to be held from July 16 to 19 is also expected to drive the performance of the biotech and medical sectors, becoming another focus of fund rotation in the market.

Overall, the long-term demand for AI has not changed, and corporate capital expenditures continue to expand. The market's bullish tone remains stable. Benefiting from the continued heating up of AI servers, high-performance computing (HPC), and semiconductor demand, the consolidated revenue of listed companies in June reached 5.83 trillion NT dollars, up 6.81% month-on-month and 46.62% year-on-year, setting a new monthly historical high. The second-quarter revenue was 16.73 trillion NT dollars, and the first-half cumulative revenue was 31.05 trillion NT dollars, simultaneously refreshing historical records. In June, 189 companies achieved new highs in revenue, and 153 companies saw year-on-year growth of more than double, showing that corporate profitability is continuously strengthening. In terms of industry performance, electronic distribution, department stores, and electronic stocks had the highest year-on-year growth rates, reflecting that AI demand has spread from chips to various links in the supply chain. Experts pointed out that Taiwan's exports maintain strong growth, and in the second half of the year, driven by continued expansion of AI capital expenditures, advanced processes, and AI server demand, electronic stocks will still be the market's main axis. The profitability of finance and traditional manufacturing is also expected to improve simultaneously. The operating strategy suggests maintaining a bullish view with volatility, seizing opportunities to buy low in batches of AI, high-end semiconductors, memory, robotics, military, passive components, and high-dividend sectors with fundamental growth during market pullbacks. Avoid chasing stocks with short-term excessive gains, and patiently wait for funds to flow back into mainstream electronic stocks after the earnings call.

In terms of heavyweight stocks, (2330-TW) TSMC rose by 1.23%, closing at 2,470 NT dollars. During the earnings call, it released an optimistic outlook. Chairman C.C. Wei stated that due to the continued strong AI demand, the company raised its full-year US dollar revenue growth forecast from "over 30%" to "slightly above 40%," exceeding market expectations. C.C. Wei pointed out that the demand for AI computing, data centers, and advanced processes continues to heat up, and the order momentum from large cloud service providers and end customers remains strong. The company maintains high confidence in the growth of the AI market in the coming years. This upward revision of the financial forecast reflects that the demand for AI accelerators, 3nm, 2nm, and advanced packaging continues to exceed expectations, further consolidating TSMC's leading position in the global wafer foundry market. The market is optimistic that this will continue to drive the semiconductor supply chain to benefit.

(2317-TW) Foxconn rose by 1.46%, closing at 242.5 NT dollars. Its second-quarter revenue reached 2.51 trillion NT dollars, up 19% quarter-on-quarter and 40% year-on-year, setting a new high for the same period in history and exceeding market expectations. This shows that AI servers and high-value-added products continue to boost revenue. Experts believe that although NVIDIA's Kyber platform is reported to be delayed until 2028, it does not affect the long-term outlook for AI server demand. On the other hand, the progress of folding iPhone production, shipment scale, and initial gross margin in the second half of the year will become important keys affecting profitability. The company still looks optimistically at the continued growth of AI infrastructure demand and estimates that earnings per share in 2026 and 2027 will exceed market consensus.

(2454-TW) MediaTek fell by 1.07%, closing at 3,700 NT dollars. Its June revenue reached 58 billion NT dollars, up 22% month-on-month and 3% year-on-year, driving second-quarter revenue to 152 billion NT dollars, up 2% quarter-on-quarter, exceeding the company's financial forecast and market expectations. This is mainly due to the early volume of AI ASIC chips, pushing revenue performance to exceed estimates. Looking ahead, the company expects third-quarter revenue to grow by about 10% quarter-on-quarter, with AI ASIC remaining the main growth driver. However, as the market has already reflected the AI theme, the stock price valuation is relatively high. MediaTek's second-quarter profitability still has room for upward revision, but it will still need to observe whether the actual shipment speed and revenue contribution of AI ASIC continue to exceed market expectations.

2026.5.10 Economic Daily Leading Announcement (3374-TW) Precision Materials

(3374-TW) Precision Materials 212.5=>418, up 96% after leading announcement

Precision Materials benefits from the continuous expansion of wafer testing business. The operating outlook for 2026 remains positive. Although the fourth quarter was affected by the revision of 3D sensors, partially impacting revenue, the gross margin improved to 32.8% with the injection of new testing capacity, and the net profit per share reached 1.89 NT dollars, exceeding market expectations. Looking ahead to this year, the new testing plant will continue to contribute to revenue, with testing capacity expected to increase by approximately 50% by the end of the year. Driven by the seasonal effect in the second half of the year, the gross margin is expected to outperform the first half of the year. Although large-scale expansion will push up depreciation expenses, experts still look optimistically at the company's annual profitability growth, estimating an EPS of 7.34 NT dollars.

2026.5.22 Economic Daily Leading Announcement (2484-TW) Silex

Quartz component manufacturer (2484-TW) Silex 48.45=>89.6, up 84% after leading announcement

Silex is an important supplier of quartz crystals and quartz oscillators in Taiwan, with products widely used in communication equipment, network products, and consumer electronics markets. Benefiting from the recovery of demand for AI servers, high-speed transmission, and terminal electronic products, the company's recent operating performance has significantly improved, with the latest monthly revenue setting a new high in nearly 42 months, showing signs of a rebound in order momentum. The market looks optimistically at the continued growth of demand for quartz components in high-speed computing and communication applications, coupled with experts' recent bullish positioning, pushing the stock price to maintain strong performance. As

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