JP Morgan research gives Overweight rating to TSMC

[prime007]

Normally, I don't see wccftech as a reliable source of information. However, I think this article they posted is an exception (especially those of us who have investments in TSMC). Written by JPM analyst Gokul Hariharan, the Twitter-linked report has several interesting pieces of information regarding TSMC.

The JPM report highlights (Target Price: NT$800 - PT End Date: Dec 31, 2022):
1. Qualcomm is coming back to TSMC from 2H22/23. The business for their 2024 flagship is currently a toss-up.
2. Nvidia is going back to TSMC for their next generation graphics products
3. AMD likely to use some chips for Samsung BUT in low volume (Chromebooks was provided as a specific example)
4. Intel's N3 outsourcing is showing progress
5. Apple's in-house modem is in the works. The start is 2H23, full-fledged is 2024.
6. In-house silicon and startups - Amazon leading the way with their Graviton 3 chip.

Source: https://wccftech.com/amd-to-stick-with-tsmc-for-majority-of-3nm-products-says-jpmorgan/

 

[Daniel Nenni]

We talked about this a while back. The Samsung 3nm was not performing well so TSMC won the bulk of the N3 design starts. Now that TSMC N3 HPC has been delayed and Samsung 3nm is doing better the landscape may change a bit. It is good that Samsung is still in the foundry business, absolutely. Hopefully Intel Foundry makes it a 3 horse race At some point in time. I did hear that Samsung shuffled the executive staff a bit hoping for better results.

 

[VCT]

TSMC Chairman just said yesterday Micron memory technology is leading Samsung right now.

 

[Portland]

The tsmc way of doing things is the future as well as the now. There's geopolitics and .... . Tsmc is one of the arguably most important companies in the world.