Taiwan Semiconductor Manufacturing ADR Stock Forum

11.11.2024

USA apparently stops delivery of AI microchips from Taiwan to China + Bitcoin reaches new all-time high of $80,076 + Hannover Re expects even more profit despite hurricane series

Apparently, the US Department of Commerce has sent a letter with export restrictions to the chip manufacturer. This is not the first time that TSMC $TSM (+1.24%) has had to suspend deliveries. 10.11.2024 - 09:14 New York/Singapore. The USA has banned a Taiwanese manufacturer from exporting microchips for artificial intelligence applications to China. Taiwan Semiconductor Manufacturing (TSMC) will not be allowed to supply advanced chips to Chinese customers from Monday, a person familiar with the matter told Reuters. These chips are often used for AI programs. According to the insider, the US Department of Commerce has sent a letter to TSMC imposing export restrictions on chips with structures in the seven nanometer range, among other things. The US order comes a few weeks after TSMC informed the US Department that one of its chips was used in an AI processor from the Chinese company Huawei was found. However, Huawei is one of the companies that the US has imposed trade restrictions on. All sales of advanced technology goods to Huawei must therefore be licensed by the USA. TSMC has already suspended deliveries to the China-based chip designer Sophgo after the AI-enabled chip was discovered in the Huawei product. Informed circles had already told Reuters last month.

https://www.handelsblatt.com/technik/it-internet/tsmc-usa-stoppen-offenbar-lieferung-von-ki-mikrochips-aus-taiwan-an-china/100087326.html

The Bitcoin $BTC (+0.53%) reached a new all-time high of $80.076 on Sunday night, German time, which means we are not that far away from the $100,000 that many investors are expecting. What do you think? Will we still reach it in 2024?

The world's third-largest reinsurer Hannover Re $HNR1 (+0.58%) is expecting higher profits this year despite the recent hurricane losses. Instead of at least 2.1 billion, the surplus should now amount to around 2.3 billion, the Dax-listed company announced in Hannover on Monday. For the coming year, outgoing CEO Jean-Jacques Henchoz and his successor Clemens Jungsthöfel have set themselves a target of around 2.4 billion euros. In the third quarter, the reinsurer earned significantly more than analysts had expected. The bottom line for the months of July to September was a profit of 663 million euros, 30 percent more than a year earlier, although flooding in Central and Central Europe cost the Group 225 million euros and hurricane "Helene" in the USA had a negative impact of 130 million euros. The consequences of hurricane "Milton" at the beginning of October are not likely to be reflected in Hannover Re's figures until the fourth quarter.

Monday: Stock market dates, economic data, quarterly figures

Stock market holiday US bond market (US stock market is open)

ex-dividend of individual stocks

ArcelorMittal EUR 0.25

Quarterly figures / company dates Europe

07:15 Stabilus | Hypoport Quarterly figures

07:30 Continental | Hannover Re | Salzgitter | Qbeyond Quarterly figures

08:00 Hawesko quarterly figures | Hannover Re PK | Direct Line Insurance Q3 sales

10:30 Stabilus Analyst Conference

12:30 Continental Analyst Conference

14:00 Hypoport Analyst Conference

No time specified:

- Federal Network Agency: Decision on letter postage Deutsche Post (later morning)

- Elmos Semiconductor Capital Markets Day

Economic data

• 00:50 JP: BoJ Current Account 9/24 | Trade Balance 9/24
• 08:30 DE: Real Estate Financiers Association VDP presents figures on real estate prices in the 3rd quarter
• 10:45 DE: Süddeutsche Zeitung, SZ economic summit, Berlin
• 11:30 DE: Government press conference, Berlin

Taiwan Semiconductor
$TSM (+1.24%) has published its sales overview for October, which shows a sales of 9,77 billion US dollars - an increase of 24,8 % compared to the previous month and 29,2 % compared to the same month last year.

Wendell Huang, the CFO of Taiwan Semiconductor
$TSM (+1.24%)told investors that TSMC will probably have higher electricity costs in Taiwan 🇹🇼 than in other countries worldwide - FT.

According to Nikkei Taiwan Semiconductor
$TSM (+1.24%) will take the first delivery of the world's most advanced chip machines from ASML
$ASML (+4.18%) by the end of the year.

OpenAI works with Broadcom
$AVGO (-1.7%) and Taiwan Semiconductor
$TSM (+1.24%) to develop its first proprietary chip designed specifically to support its AI systems, according to Reuters.

Taiwan Semiconductor
$TSM (+1.24%) achieves in its first factory in Arizona 🇺🇸 achieves higher production yields than comparable plants in Taiwan 🇹🇼 - an important success for the US project, which was initially plagued by delays.

According to Rick Cassidy, President of the US division of TSMCthe proportion of usable chips is around four percentage points above the Taiwanese level.

Yield is critical to profitability in the semiconductor industry. -Bloomberg

Photo: Irene Challun

Nvidia
$NVDA (+0.48%)-CEO Jensen Huang explained that a design flaw in the latest Blackwell AI chips in collaboration with partner TSMC
$TSM (+1.24%) has been fixed - Reuters.

"We had a design flaw with Blackwell. The chips worked, but the error led to a low yield.

The responsibility for this lay entirely with Nvidia."

18.10.2024

ECB cuts interest rates in the eurozone + TSMC rises significantly + Netflix wants to become a magnet for TV advertising + Gold price rises above the USD 2,700 mark for the first time + DAX expected to be slightly weaker after record high

The European Central Bank (ECB) cuts interest rates in the eurozone again. The deposit rate, which sets the trend on the financial market and which banks receive for money parked with the ECB, will be reduced by 0.25 percentage points to 3.25 percent, as the central bank announced in Frankfurt. The decision had been expected

Taiwan Semiconductor Manufacturing Co $TSM (+1.24%) jumped after the chipmaker posted a net profit of T$325.26 billion ($10.1 billion) in the three months to Sept. 30. The figure was higher than the Reuters estimate of T$300.2 billion. TSMC also gave an optimistic outlook for the current quarter, citing improved capacity utilization among other factors.

The lower-priced subscription with advertising will Netflix $NFLX (+0.94%) a reliable growth driver. In the countries in which it is available, the advertising offer accounted for more than half of new subscriptions in the past quarter. The number of users with such subscriptions rose by 35 percent within three months. The video streaming market leader wants to use the momentum to become more attractive to advertising customers. This could ensure that more advertising expenditure is diverted from traditional TV to the internet service. In several countries - including Germany - Netflix had abolished what was once the cheapest ad-free price tier. The result is that customers who want to save money end up with an advertising subscription. Netflix gained more than five million new customers in the last quarter. The streaming provider now has a total of around 282.7 million customer households - and expects to have around 600 million viewers.

The gold price $GOLD continued to soar at the end of the week, reaching another record high on Friday night. The price of a troy ounce (approx. 31.1 grams) passed the 2,700 dollar mark for the first time and at times cost almost 2,712 dollars. Most recently, the price was slightly lower, but still 0.65 percent above Thursday's level. The price of gold has been rising sharply for months - a year ago, a troy ounce cost less than 2,000 dollars. Traders cited the upcoming US presidential election in a few weeks as one of the reasons for the recent rise. It remains to be seen who will win the US election on November 5 - Republican Donald Trump or Democrat Kamala Harris.

According to the Dax $GDAXI record of almost 19,675 points the previous day, investors on the German stock market are likely to take it easy for the time being on Friday. Broker IG put the leading German index at 19,521 points, down 0.3 percent, a good two hours before the Xetra start. On Thursday, the European Central Bank cut its key interest rate and, with a view to possible further steps, indicated that it would wait and see how the economy develops. Overall, there were no surprises

surprises from the ECB. The data from overseas was mixed at the end of the week. Although Wall Street set further records, the momentum waned over the course of trading. The Asian stock markets were unable to find a common direction. Although China's economy grew slightly more strongly than expected in the third quarter, growth continued to cool.

Friday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Procter & Gamble USD 1.01

Colgate-Palmolive 0.50 USD

Quarterly figures / company dates USA / Asia

12:55 Procter & Gamble quarterly figures

13:00 American Express Quarterly figures

Quarterly figures / Company dates Europe

07:20 Volvo AB Quarterly figures

10:30 Man and Machine Presentation 9 Month figures

Economic data

• 01:30 JP: Nationwide consumer prices September
• 04:00 CN: GDP 3Q | retail sales 9/24 | industrial production 9/24 | fixed asset investment to 9/24
• 08:00 DE: Building permits
• 10:00 EU: ECB, Current Account August | Survey of Professional Forecasters
• 11:00 DE: IG Metall Mitte, second wage negotiation with employers of the metal and electrical industry in Hesse, Rhineland-Palatinate and Saarland
• 14:30 US: Housing Starts/Permits September Housing Starts FORECAST: -0.4% yoy previous: +9.6% yoy Building Permits FORECAST: -1.7% yoy previous: +4.9% yoy
• 16:30 US: Federal Reserve Bank of Atlanta President Raphael Bostic, speech at Millsaps College in Jackson, Mississippi
• 18:30 US: Federal Reserve Bank of Atlanta President Raphael Bostic speaks at the Mississippi Council on Economic Education Forum as part of the American Enterprise Luncheon

No time specified:

- DE: Chancellor Scholz - Meeting with US President Biden | Participation in EU Summit and Euro Summit

- EU: S&P, rating review Greece | Great Britain | Italy

$TSM (+1.24%) surfs the AI wave: 10 billion dollars profit in Q3!