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MarketScreener Homepage  >  Equities  >  Taiwan Stock Exchange  >  Taiwan Semiconductor Manufacturing Company Limited    2330   TW0002330008

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Huawei stockpiling drives Taiwan September exports up for second month

10/07/2020 | 04:55am EST
FILE PHOTO: The Huawei logo is seen at the IFA consumer technology fair, in Berlin

TAIPEI (Reuters) - Taiwan's exports rose in September, boosted again by Chinese telecom giant Huawei Technologies Co Ltd rushing to get in orders at Taiwanese firms before they had to comply with U.S. curbs that took effect last month.

Exports jumped 9.4% from a year earlier to $30.71 billion in September, the second-highest monthly tally on record, the finance ministry said on Wednesday. A Reuters poll had forecast a rise of 6.6% for the month. Exports in August went up 8.3%, also helped by demand from Huawei.

The ministry said exports were driven by Huawei stockpiling supplies before the U.S. restrictions kicked in and the start of the peak shopping season for electronics.

The Trump administration in August expanded its curbs on Huawei and banned suppliers from selling chips made using U.S. technology to the Chinese firm without a special licence. That came on top of May restrictions, which fully took effect on Sept. 14.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC),, the world's largest contract chipmaker, said in July it had stopped taking new orders from Huawei in May and did not plan to ship wafers after Sept. 15.

Tech powerhouse Taiwan, whose largest trading partner is China, could see October exports in the range of a 2% contraction to a 1% rise on year, the ministry said.

While the coronavirus pandemic and U.S.-China trade tensions remained sources of concern, the upcoming shopping season in the United States and Europe and the work-from-home trend that has helped demand for Taiwan's tech products should keep export demand steady, the ministry added.

Taiwan's September imports unexpectedly fell 5.4%, against economists' expectations for a 3% increase.

Taiwan's manufacturers are a key part of the global supply chain for tech giants such as Apple Inc .

(Reporting by Jeanny Kao and Ben Blanchard; Editing by Sam Holmes and Louise Heavens)

By Jeanny Kao and Ben Blanchard


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.56% 122.25 Delayed Quote.67.46%
TAIWAN SEMICONDUCTOR CO., LTD. 0.93% 54.3 End-of-day quote.1.31%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.21% 503 End-of-day quote.51.96%
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Financials
Sales 2020 1 342 B 47 586 M 47 586 M
Net income 2020 512 B 18 163 M 18 163 M
Net cash 2020 404 B 14 311 M 14 311 M
P/E ratio 2020 25,4x
Yield 2020 2,14%
Capitalization 13 043 B 462 B 463 B
EV / Sales 2020 9,42x
EV / Sales 2021 8,38x
Nbr of Employees 48 752
Free-Float 93,6%
Chart TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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Taiwan Semiconductor Manufacturing Company Limited Technical Analysis Chart | 2330 | TW0002330008 | MarketScreener
Technical analysis trends TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 27
Average target price 549,92 TWD
Last Close Price 503,00 TWD
Spread / Highest target 39,2%
Spread / Average Target 9,33%
Spread / Lowest Target -18,5%
EPS Revisions
Managers
NameTitle
Che Chia Wei Vice Chairman & Chief Executive Officer
Te Yin Liu Chairman
J. K. Wang Senior Vice President-Operations
Jen Chao Huang Chief Financial Officer
Renzhao Huang Chief Financial Officer
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