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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

(2330)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-10-05
451.00 TWD   +1.35%
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Taiwan says it has not been informed of 'Chip 4' meeting

08/19/2022 | 12:46am EDT

TAIPEI, Aug 19 (Reuters) - Taiwan said on Friday it has not been informed about a so-called 'Chip 4' meeting that would include it, the United States, South Korea and Japan but added the island has always cooperated closely with the United States on supply chains.

South Korean Foreign Minister Park Jin this week said Seoul expects to attend a preliminary meeting of the four chip manufacturing nations, describing the gathering as U.S.-led.

He did not elaborate on what would be discussed.

A meeting would come amid a global chip crunch that began two years ago with the onset of the pandemic and on the heels of a new U.S. law this month called the CHIPS Act that includes $52 billion in subsidies for companies that make chips or conduct chip research in the United States.

The Biden administration has also sought deeper cooperation with Japan and South Korea to become more competitive with China's science and technology efforts.

The timing, location and other details of the CHIP 4 meeting have yet to decided, said a South Korean official who was not authorised to speak to media and declined to be identified.

Taiwan's economy ministry said in a statement to Reuters late on Thursday it did not yet have any relevant information.

"In past exchanges and dialogue between Taiwan and the United States, the United States did propose similar ideas, but there was no specific content at the time," it added.

The island has been keen to show the United States, its most important international backer at a time of rising military tensions between Taipei and Beijing, that it is a reliable friend and semiconductor supplier.

Taiwan and South Korea are the world's two largest chip powerhouses.

Taiwan's TSMC controls about 54% of the global market for contractually produced chips, supplying firms such as Apple and Qualcomm which don't have their own semiconductor facilities.

South Korea is home to Samsung Electronics and SK Hynix which together supply more than half of the global memory chip market.

Asked about the meeting, Japan's Cabinet Secretary for Public Affairs Noriyuki Shikata said semiconductors are a “very strategically important industry” for Japan and that “in due course, there may be better cooperation among the countries.” (Reporting by Ben Blanchard; Additional reporting by Rocky Swift, Joyce Lee and Miyoung Kim; Editing by Edwina Gibbs)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.66% 145.43 Delayed Quote.-17.72%
MSCI TAIWAN (STRD) 0.99% 484.447 Real-time Quote.-37.26%
QUALCOMM, INC. 0.31% 125.28 Delayed Quote.-33.08%
SAMSUNG ELECTRONICS CO., LTD. 0.54% 56300 End-of-day quote.-28.10%
SK HYNIX INC. 0.11% 89900 End-of-day quote.-31.37%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED 1.35% 451 End-of-day quote.-26.67%
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Analyst Recommendations on TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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Financials
Sales 2022 2 239 B 70 928 M 70 928 M
Net income 2022 967 B 30 618 M 30 618 M
Net cash 2022 380 B 12 047 M 12 047 M
P/E ratio 2022 12,1x
Yield 2022 2,67%
Capitalization 11 695 B 370 B 370 B
EV / Sales 2022 5,05x
EV / Sales 2023 4,53x
Nbr of Employees 65 152
Free-Float 93,6%
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Technical analysis trends TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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Mean consensus BUY
Number of Analysts 32
Last Close Price 451,00 TWD
Average target price 676,86 TWD
Spread / Average Target 50,1%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Fan Cheng Tseng Vice Chairman & President
Wendell Huang Chief Financial Officer & Vice President
Te Yin Liu Chairman
Yung Ching Hou SVP-Corporate Research-Europe & Asia
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