Technology / Semiconductor / Internet Research

Nicolas Baratte

Nicolas Baratte has been a financial analyst since 2000, covering the Semiconductor sector and Global Technology. Nicolas has worked on the sell-side for JPMorgan, CLSA. On the buy-side for a Tiger fund and Prudential. Nicolas has covered semiconductors, Asian hardware and components, and the Global Tech supply chain. Nicolas lives mostly in Taiwan, sometimes in France and is in New York regularly.

TSMC: Review of Client Roadmaps, Rumored A16 Pricing Underscores Strategic Moat in Advanced Nodes

Taiwan Dual-Listings Monitor: TSMC Spread Remains at Historically Extreme Level; UMC Breaks Higher

Taiwan Tech Weekly: TSMC's 2nm Node to Generate Largest Revenue Ever; US Bottleneck in Adv Packaging

TSMC. Full Steam Ahead Despite Tariff Threats & China Bans. For Now.

Taiwan Dual-Listings Monitor: TSMC Premium Break Out Is at Historically High End of Range

TSMC (2330.TT; TSM.US): Holds Shareholders’ Meeting on June 3rd.

Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

Equity Bottom-Up

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>TSMC is on its way to beat its 2Q revenue guidance, Apr + May represent 72% of 2Q guide. YTD revenue growth 43% YoY, Consensus at 26% (NT$). Upgrade coming? </li>
<li>UMC is on its way to miss its 2Q revenue guidance, Apr + May represent 63% of 2Q guide. YTD revenue growth 4% YoY . No recovery in legacy semiconductor. </li>
<li>This confirms, again, that AI is the only growing segment in semiconductors. The rest is lackluster (computers, smartphone, automotive, industrial, you name it).</li>
</ul>


TSMC is on its way to beat its 2Q revenue guidance, Apr + May represent 72% of 2Q guide. YTD revenue growth 43% YoY, Consensus at 26% (NT$). Upgrade coming? 
UMC is on its way to miss its 2Q revenue guidance, Apr + May represent 63% of 2Q guide. YTD revenue growth 4% YoY . No recovery in legacy semiconductor. 
This confirms, again, that AI is the only growing segment in semiconductors. The rest is lackluster (computers, smartphone, automotive, industrial, you name it).


TSMC, UMC Monthly Sales: A Tale of 2 Worlds