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Wanbao Investment Gu Chen Zirong pointed out that on Thursday (January 14) the market was more concerned about TSMC (2330-TW), the “sacred mountain of the country’s protection.” Judging from the shocking increase in share price earlier, TSMC’s fourth quarter financial report was indeed a beautiful report card that was better than expected. He got almost 2 shares in the entire year last year. The capacity utilization rate in the first quarter of this year is still at a high level. The low season is not weak and revenues are expected to grow between 0.16 and 2.5%. This year’s dollar revenue will grow 15%, which is better than the performance of the industry.
The capex of most concern to all is estimated to be as high as US $ 25-28 billion, hitting a new record again, and much higher than the originally expected US $ 22 billion, an annual increase. of around 45-62%, of which 80% is spent. In the advanced manufacturing process, it is expected that in the future, it will continue to widen the distance from the competition with the industry and maintain the technological leadership. TSMC is estimated to have a compound annual growth rate (CACG) of 10-15% in its annual revenue by 2025, which is said TSMC revenue will hit new highs for 16 consecutive years.
Wanbao Investment Gu Chen Zirong pointed out that TSMC’s legal theory amounts to ensuring the future performance of the stock price and the development of Taiwan’s shares, while presenting the business context of the industry. TSMC’s momentum in the fourth quarter of last year came from 5G smartphones, and HPC (High Performance Computing) is driving strong demand for 5 nanometers, but in the first quarter of this year, the rapid heating of HPC and electronics automotive is more obvious. In general, HPC, automotive electronics, 5G, and the Internet of Things are all Demand for platforms is very strong, which means that both relevant electronics groups and automotive electronics have been doing very well this year.
When it comes to automotive electronics, one cannot help but pay attention to Hon Hai’s actions and development. After Hon Hai (2317-TW) builds the MIH platform, there are more and more EV business partners, and the lineup is getting stronger, including Chrysler and Yulon (2201-TW). ), Asustek (2357-TW) have joined the ranks. Not long ago, Hon Hai announced a cooperation with Byton, fighting for the mass production of M-Byte before the first quarter of next year, trying to fight Tesla; two days later, it announced that it would join hands with China Geely, mainland China’s largest automaker, has created a new global electric vehicle foundry model to achieve one-stop-shop service. If these things can be achieved, then the good news of acquiring Apple Car should not be far behind.
In fact, it can be seen from the disc that Hon Hai and Hongjiajun’s share prices have risen sharply recently, and the automotive electronics group is also very happy. Related actions have also been shared with you before, including Jialing (4976-TW) recommended to everyone on 10/12. ), the stock price was only 55.6 yuan at the time. After a big climb, they kept recommending 1/4 and 1/12 again. The stock price rose for two consecutive days. On Friday (1/15) it reached an all-time high. The recommendation has increased by 82% so far. In the future, with the blessing of the electric vehicle theme, the imagination is limitless.
Wanbao Investment Gu Chen Zirong pointed out that the index rushed to 10,000 and retreated, and it continued to be too high. Only when the index is removed and understands the low-low design, you cannot be afraid of crashes. Solid, we can only win to the end by transferring funds to forward looking and future industries and stocks. It is recommended that investors choose high-quality stocks in operation and match the flow of exchange currency with the opportunistic design, so that they can win both the index and the shares, and a situation where everyone wins as much for the credit as for credit.
Innolux (3481-TW) consolidated revenue in December was 27 billion yuan, a monthly increase of 3.5%, an annual increase of 22.4%, a record in 36 months; a total of 78.1 billion yuan in the fourth quarter of last year, a quarterly increase of 4.7%, an annual increase of 19.0%, It is a new record in the twelfth quarter; The world’s leading automakers have adopted the launch of the “special shape car smart display” with full capacity; MiniLED backlit large car and TV screens launched at CES to actively exploit business opportunities in applications such as Lele; Due to the shortage of components to suppress the offer, the prices of the panels will continue to increase in the first quarter; legal entities estimate a reasonable price of 16.3 yuan and an optimistic estimate of 24 yuan.
Zhimao’s Silicon and Semiconductor Photonics Test Solutions (2360-TW) have increased in performance. In the fourth quarter of last year, revenue was 4.177 billion yuan, an increase of 0.6% quarter-on-quarter. Consolidated annual revenues were 15,532 million yuan, 11.7% year-on-year; artificial intelligence Internet of Things (AIoT) is driving demand for 5G and high-performance computing (HPC), and the demand for related test equipment has increased. Electronic power sensing systems have caught up with the trend for electric vehicles. The total share of 5G and electric vehicle metering revenue has accounted for more than half. Demand will continue to increase this year. The earnings outlook is optimistic.
Photomask (2338-TW) revenue in December was 429 million yuan, an annual increase of 32.88%; benefited from the full capacity of TSMC’s advanced manufacturing process, 8-inch business outsourcing orders increased, and last year’s capex reached 2 billion yuan to enter 12-inch production capacity. This year’s earnings will grow substantially; foreign investment and investment credit have bought more than 1,700 contracts last week.
Of course, there are some good stocks that still have short-term chip advantages under high-end index fluctuations, including related stocks like autonomous electric cars, AI, and 5G. However, due to limited space, please go directly to the fan group to watch. , I hope it helps the readers.
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