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Coincidence?
On March 6th 2024, Morgan Stanley and David Zinser, Chief Financial Officer of Intel, were discussing (via Seeking Alpha Teleconference) Intel's current status in terms of making chips, how things were fairing, and what the near future was looking like.
Two days later, on March 8th 2024 Morgan Stanley raises TSMC’s price target to NT$1,080 (40% increase from price at the time). This didn't mark the end of Morgan Stanley's optimism for TSMC, though, as it also revealed that TSMC is now Morgan Stanley's preferred stock.
Morgan Stanley's hypothesis for the NT$1,080 share price target is based on Intel outsourcing its production to TSMC sooner than expected, with the newer technology also leading to a cost reduction to booster overall earnings. The analysts add that most of TSMC's future revenue growth should rely on A.I. chips, and U.S. investors find the Taiwanese firm's shares favorable because of the A.I. contributions, a robust global fabrication base and more chip designers seeking to make their A.I. chips. All these put together have made the analysts comment that they are "optimistic about the company‘s long-term growth and pricing ability."
https://www.pcgamer.com/hardware/pr...-be-in-terms-of-external-wafer-manufacturing/
https://seekingalpha.com/article/46...anley-technology-media-and-telecom-conference
https://wccftech.com/tsmc-becomes-top-morgan-stanley-a-i-stock-shares-surge-set-new-record/
On March 6th 2024, Morgan Stanley and David Zinser, Chief Financial Officer of Intel, were discussing (via Seeking Alpha Teleconference) Intel's current status in terms of making chips, how things were fairing, and what the near future was looking like.
Two days later, on March 8th 2024 Morgan Stanley raises TSMC’s price target to NT$1,080 (40% increase from price at the time). This didn't mark the end of Morgan Stanley's optimism for TSMC, though, as it also revealed that TSMC is now Morgan Stanley's preferred stock.
Morgan Stanley's hypothesis for the NT$1,080 share price target is based on Intel outsourcing its production to TSMC sooner than expected, with the newer technology also leading to a cost reduction to booster overall earnings. The analysts add that most of TSMC's future revenue growth should rely on A.I. chips, and U.S. investors find the Taiwanese firm's shares favorable because of the A.I. contributions, a robust global fabrication base and more chip designers seeking to make their A.I. chips. All these put together have made the analysts comment that they are "optimistic about the company‘s long-term growth and pricing ability."
https://www.pcgamer.com/hardware/pr...-be-in-terms-of-external-wafer-manufacturing/
https://seekingalpha.com/article/46...anley-technology-media-and-telecom-conference
https://wccftech.com/tsmc-becomes-top-morgan-stanley-a-i-stock-shares-surge-set-new-record/