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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

(2330)
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Taiwan's April export orders surge again, outlook shadowed by COVID outbreak

05/20/2021 | 04:58am EDT
Cargo cranes are seen moving containers at a container yard in Keelung

TAIPEI (Reuters) - Taiwan's April export orders rose for the 14th month in a row and far exceeded expectations, boosted by sustained demand for telecommuting products during strict lockdowns worldwide to contain the COVID-19 pandemic. Strong demand for smartphones made by the likes of Apple Inc also fuelled orders.

Taiwan's export orders, a bellwether of global technology demand, jumped 42.6% from a year earlier to $54.93 billion in April, data from the Ministry of Economic Affairs showed on Thursday.

That was much better than the median forecast of a rise of 32.6% in a Reuters poll.

The ministry attributed the strong performance to robust demand for smartphones, tablets and laptop computers, as well as electronics parts for the automotive sector, which has been suffering from a global shortage of chips.

In March, export orders jumped 33.3% from a year earlier to $53.66 billion.

Taiwan companies such as Foxconn and Taiwan Semiconductor Manufacturing Co Ltd (TSMC) are key suppliers to Apple.

Last month, Apple posted sales and profits ahead of Wall Street expectations, fuelled by 5G iPhone upgrades, but warned that a global chip shortage could dent iPads and Mac sales by several billion dollars.

The ministry described the outlook for technology orders as strong as the global economy gradually recovers from the pandemic.

A recent spike in COVID-19 cases in Taiwan, however, was a major uncertainty that could potentially hit local production, the ministry said, urging citizens to help contain the virus to keep manufacturing running.

Around half of Taiwan's orders were manufactured on the island, the ministry said, adding that most of the manufacturers it surveyed expected no impact from the local outbreak.

The ministry expects export orders in May to rise between 40.1% and 44% from a year earlier.

U.S. orders in April jumped 43% from a year earlier, up from a rise of 33.2% in March, while orders from China were up 40.5%, versus a gain of 34.1% the previous month.

European orders rose 38%, while those from Japan wereup 36.4%.

(Reporting by Jeanny Kao and Yimou Lee; Editing by Kim Coghill)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.16% 148.79 Delayed Quote.12.13%
FOXCONN TECHNOLOGY CO., LTD. -0.92% 64.4 End-of-day quote.20.60%
MSCI TAIWAN (STRD) -0.73% 708.996 Real-time Quote.19.45%
S&P 500 -0.16% 4473.75 Delayed Quote.18.29%
TAIWAN SEMICONDUCTOR CO., LTD. -0.93% 64 End-of-day quote.2.89%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -1.15% 600 End-of-day quote.13.21%
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Financials
Sales 2021 1 577 B 56 847 M 56 847 M
Net income 2021 580 B 20 917 M 20 917 M
Net cash 2021 238 B 8 591 M 8 591 M
P/E ratio 2021 26,8x
Yield 2021 1,84%
Capitalization 15 558 B 560 B 561 B
EV / Sales 2021 9,72x
EV / Sales 2022 8,32x
Nbr of Employees 48 752
Free-Float 93,6%
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Taiwan Semiconductor Manufacturing Company Limited Technical Analysis Chart | 2330 | TW0002330008 | MarketScreener
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Mean consensus BUY
Number of Analysts 30
Last Close Price 600,00 TWD
Average target price 757,86 TWD
Spread / Average Target 26,3%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Wendell Huang Chief Financial Officer & Vice President
Te Yin Liu Chairman
Yung Ching Hou Vice President-Research & Development
J. K. Lin SVP-Information Technology & Materials Management
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