Is Taiwan Semiconductor Manufacturing a Buy?
Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, has been in fine form on the stock market in the new year. In fact, shares of the semiconductor foundry giant have surged 27% year-to-date despite concerns that a slowdown in chip demand is likely to weigh on the company's performance, which its recent results have confirmed.
TSMC released its fourth-quarter 2022 earnings report on Jan. 12, 2023. The semiconductor bellwether reported robust year-over-year growth, but a closer look at the company's outlook suggests it is about to hit a major speedbump.
TSMC's revenue increased 27% year over year during the quarter to $19.9 billion, which was at the lower end of the company's guidance range. Earnings also jumped an impressive 58% year over year to $1.82 per share last quarter, which was better than Wall Street's expectations of $1.80 per share.
Source Fool.com
