TSMC just dropped absolute monster Q3 numbers:
• Net profit: NT$763.1B (↑68.7% YoY)
• Operating margin: 58.7% (beat guidance of 58%)
• Free cash flow: NT$476.56B vs NT$139.38B last year
That FCF number is insane - 3.4x jump YoY. This is what happens when you're the only game in town for cutting-edge chips.
Bullish for:
$NVDA - they need TSMC's 3nm/5nm capacity
$AMD - same boat
$TSM - obviously
AI chip demand isn't slowing down. If anything, these numbers confirm the supercycle thesis is still intact.
• Net profit: NT$763.1B (↑68.7% YoY)
• Operating margin: 58.7% (beat guidance of 58%)
• Free cash flow: NT$476.56B vs NT$139.38B last year
That FCF number is insane - 3.4x jump YoY. This is what happens when you're the only game in town for cutting-edge chips.
Bullish for:
$NVDA - they need TSMC's 3nm/5nm capacity
$AMD - same boat
$TSM - obviously
AI chip demand isn't slowing down. If anything, these numbers confirm the supercycle thesis is still intact.