United Microelectron Sp Adr

UMC (UMC.US, 2303.TT): 1Q22 Earnings Preview- Continuous Growth

Equity Bottom-Up
197 Views, 19 Jan 2022 16:48
EXECUTIVE SUMMARY
  • It is continuing to raise wafer price, and revenue/GM to reach ~NT$58billion/~39% and NT$60billion/~41.5% in 4Q21/1Q22 respectively. 
  • It will plan to add 5-8k 28nm production capacity in 12A Tainan during 2H22, and we consider it is to secure customers’ demands.
  • We do not see any sign to deteriorate for the 2nd half at this moment. 
detail (3-minute read)
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Patrick Liao
Taiwan Tech Focused Senior Analyst
TaiwanInformation TechnologyEquities

Being invited, I joined Sellside, i.e. JPMorgan, Nomura and Macquarie, totally around 9-10 years. Before that, I joined ... 

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