Semiconductors

Taiwan Semiconductor

AMAT

Financial Analysis

SSNGY

Applied Materials (AMAT) posted its FY26 Q2 results (quarter ended Apr 2026) after hours early May 15 (Beijing time), with the following highlights: 1) Core metrics: revenue of $7.9bn (+11% YoY), beating the Street at $7.7bn, driven by AI compute infrastructure build-out that lifted demand for advanced logic, DRAM, and advanced packaging tools. $Applied Materials(AMAT.US) GPM was 49.9%, up 90bps QoQ...

Applied Materials

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Micron Tech

Capex Boom Ahead: Can AMAT Catch the Windfall?

Today’s Key News Recap

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0504 | Dolphin Research Focus: 🐬 Stock 1, $XIAOMI-W(01810.HK) jumped over 10% intraday after Xiaomi Auto delivered 30k units in Apr. (+50% MoM). Locked-in orders for the new SU7 topped 70k.Recovering deliveries and strong order intake validate market acceptance, supporting the full-year target of 550k vehicles. The strong share move also reflects a re-rating of the 'smartphone + AIoT + auto' strategy, lifting sentiment across the supply chain.Focus now shifts to the capacity ramp and execution on order fulfillment. Follow-through will depend on these milestones...

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Xiaomi Auto data sparks rally; Doubao to launch new paid model | Daily News Recap

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0423 | Dolphin Research Focus: 🐬 Stock #1, $XIAOMI-W(01810.HK). Xiaomi rolled out the MiMo‑V2.5 suite overnight, featuring four new models.The flagship Reasoning V2.5 and the multimodal Agent V2.5‑Pro enter public beta and will be open‑sourced. V2.5‑TTS and V2.5‑ASR will launch later.The lineup centers on agent use cases, with token efficiency notably improved. V2.5‑Pro is benchmarked against top‑tier Intl models such as GPT‑5.4. AI iteration is accelerating...

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Xiaomi fires off 4 MiMo LLM releases; TSM puts ASML's newest litho tool on hold | Daily News Recap

TSMC

Conference Minutes

Below are Dolphin Research's call notes for $Taiwan Semiconductor(TSM.US) FY26Q1. For our earnings analysis, please see 'TSMC: AI's true overlord — who can challenge it?'.Key highlights are as follows. 1) Shareholder returns — the company pledged to steadily raise DPS on both an annual and quarterly basis. In Q1, it declared an NT$130bn cash dividend for 2025 Q2. 2) Guidance — Q2 revenue is guided to $39.0-40.2bn (+10% QoQ ...).

TSM (Trans): Stays 'cautious', modestly lifts FY guide

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TSMC reported Q1 2026 results (quarter ended Mar 2026) on Apr 16, 2026 Beijing time, before the US market open. Key takeaways: 1) Revenue.

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TSM: AI's Undisputed Leader — Who Can Challenge It?

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TSM 1Q26 First Take: Another solid print, with topline growth largely foreshadowed by the monthly ops data.Revenue came in at $35.9bn, above the high end of guide ($35.8bn), aided partly by FX tailwinds from USD strength vs. TWD. On a TWD basis, revenue rose 8.4% QoQ, implying an even stronger underlying performance. The more consequential takeaways this quarter are GPM, capex and forward guidance.These will drive investor focus into the back half. ① GPM: GPM reached 66.2%, near the raised buy-side bar (66–66.5%), driven by better ASPs and lower unit costs as scale builds.Management guided next-quarter GPM to 65.5–67.5%, broadly in line with the revised buy-side range (66–66.5%). The shift of AI chips from 5nm to 3nm should continue to lift blended ASPs and margin. ② Capex: Capex was $11.1bn in the quarter.With the 2026 capex plan already raised to $52–56bn, implied capex for the remaining three quarters is $40.9–44.9bn. Spend is back-half weighted at an Avg. $13–15bn per quarter, consistent with ASML’s full-year guide calling for a stronger 2H. ③ Outlook: Next-quarter revenue is guided to $39.0–40.2bn, above the raised street view (~$38.8bn), underscoring smooth migration of AI workloads to 3nm.For 2026, management lifted revenue growth to 30%+ (from ~30%), signaling confidence and aligning with mainstream institutional expectations. Overall, TSM delivered another strong set of results.Revenue hit a new high while GPM stepped up to 66%. Even after consensus moved higher, the company still offered above-consensus quarterly guidance. Within the current AI silicon stack, TSM’s lead in technology and capacity remains clear, giving it pricing and allocation leverage with downstream customers such as NVDA, GOOGL and AMD.It is positioned as the ‘steady and highly profitable’ winner of this AI capex cycle. For more, follow Dolphin Research’s detailed takeaways and Trans. $Taiwan Semiconductor(TSM.US) $Leverage Shares 2X Long TSM Daily ETF(TSMG.US) $Direxion Daily TSM Bull 2X Shares(TSMX.US)

Leverage Shares 2X Long TSM Daily ETF

Direxion Daily TSM Bull 2X Shares

NVIDIA Corporation

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By 2030, the combined market for power batteries and energy storage could exceed 4 TWh.Over the next few years, CAGR may surpass 25%-30%.

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CATL (1Q26 Trans): Q2 builds remain fully booked; capacity utilization holds at 85%-90%.

CATL Delivers on Volume and Quality

CATL: The unshakable 'TSMC' of the energy era!

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Apr 15 | Dolphin Research Focus: 🐬 Macro/Industry. 1) Anthropic plans to roll out its next-gen flagship model Claude Opus 4.7 this week, alongside AI-powered design tools for website and presentation design, further strengthening its portfolio and use-case coverage.The move is aimed squarely at OpenAI and Google and will intensify competition among leading LLMs. For Anthropic, cracking inference efficiency and cost control would be pivotal...

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Anthropic may roll out Opus 4.7 as early as this week; NVDA's quantum model targets baryons | Daily News Recap

ASMG

ASML First Take: The print was middling. Revenue and GPM were in line with guidance, but there was no clear beat.Growth this quarter was driven by stronger EUV demand from Korean memory makers and higher service revenue. Versus the reported numbers, the Street is more focused on orders and forward guidance: ① Orders: The co. did not disclose order intake this quarter.Last quarter, net bookings were €13bn, largely from memory customers, with most shipments slated for 2027. Bookings are a leading indicator, so watch the earnings call for any color on order details (cf. Dolphin Research's Trans). ② Outlook: Mgmt guides next-quarter revenue at €8.4–9.0bn, below the Street's €9.1bn.As mgmt has already issued FY26 guidance, the next-quarter guide carries less weight. The co. raised its FY26 revenue guide to €36–40bn (from €34–39bn), implying +10–22% YoY and signaling confidence in the business.Major sell-side houses had already lifted their FY growth range to ~10–25%, so this aligns with market expectations. Based on guidance, ASML's growth is back-half weighted, with H2 revenue likely €18–22bn, well above H1 (per quarter under €9bn), implying wafer-fab capex will also skew to H2. Overall, near-term results are subdued, but with clear full-year guidance, Q1–Q2 prints matter less. With TSMC and memory vendors expanding capex, ASML still offers relative visibility. Beyond the FY guide, orders better indicate the durability of growth. The co. did not disclose this in the release, so we need to wait for mgmt commentary. For more, follow Dolphin Research's subsequent takeaways and transcripts. $ASML(ASML.US) $Leverage Shares 2X Long ASML Daily ETF(ASMG.US)

Leverage Shares 2X Long ASML Daily ETF

Trump reiterates his rhetoric that Taiwan 'stole' the US chip industry

Cathie Wood's Ark Invest sold over 100,000 TSMC ADR shares on May 15

Intel CEO Tan Announces Foundry Business Momentum to Compete with TSMC

TSMC to Hold 2026 Japan Technology Symposium in Yokohama

Bernstein raises TSMC price target to $430

Coatue Management Increases Stake in TSMC

TSMC subsidiary announces purchase of various fixed-income securities

Bank of America Raises TSMC Capex Forecast on Chip Demand

TSMC Reveals 1nm and 12 New Fabs Plan to Meet Future Demand

TSMC Raises Global Chip Market Size Forecast by 50% to Meet Surging AI Demand

Taichung Mayor Lu Hsiu-yen confirms that TSMC's investment and factory construction plans in Taichung remain unchanged.

TSMC Reports Significant Profit Growth in Japan and Arizona, 3nm Expansion Receives Buy Ratings

TSMC's Co-Packaged Optics Solution to Enter Mass Production in H2 2026

TSMC to Hold 2026 Europe Technology Symposium in Amsterdam

TSMC to Host 2026 China Technology Symposium in Shanghai

TSMC Releases Positive Operating News and Future Technology Roadmap at Technology Forum

TSMC reportedly prepares for price hikes as customers prioritize capacity over cost

Market rumors suggest TSMC may reduce its holdings in other subsidiaries like Xintec, causing Xintec's stock to hit its limit down

TSMC Predicts 70% CAGR for 2nm and A16 Process Capacity

TSMC Proposes Chip "Three-Layer Cake" Theory at Technology Forum

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

Wellgistics Health

Huachen AI Parking Management Tech

GeoVax Labs

Sunshine Biopharma

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Virax Biolabs

NextNRG

GCT Semiconductor

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Taiwan Semiconductor Manufacturing Company Ltd. $TSM Stock Position Lifted by HighTower Advisors LLC

Ordinary dividend (cash)

Ex Date: 2026.06.11 (EST), Cash dividend 0.9503 USD

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) Q1 2026 Earnings Conference Call

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) Q4 2025 Earnings Conference Call

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) Q3 2025 Earnings Conference Call

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) Q2 2025 Earnings Conference Call

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) Q1 2025 Earnings Conference Call

Taiwan Semiconductor Manufacturing Company Limited (TSM.US) 2024 Q4 earnings conference call

The latest batch of 13F filings has been released: In Q1, Berkshire Hathaway increased its stake in Google Class A shares by over 200%, propelling it to the position of its seventh-largest holding. The firm completely exited positions held for nearly seven years—including Amazon, as well as Visa, Mastercard, and UnitedHealth—while simultaneously making a return to the airline sector after a six-year hiatus, investing $2.65 billion to establish a new position in Delta Air Lines. Bridgewater Associates, meanwhile, initiated new positions in TSMC and the Gold ETF (GLD) for the first time; it also increased its holdings in Amazon (elevating it to its top holding), Nvidia, Broadcom, and Micron. Conversely, the firm liquidated its stakes in Salesforce and ServiceNow, and trimmed its positions in Mastercard, Adobe, and others. Institutional capital is currently converging on AI computing power and safe-haven assets. How many of the stocks in your portfolio have caught the eye of these investment giants?

The latest batch of 13F filings has been released: In Q1, Berkshire Hathaway increased its stake in Google Class A shares by over 200%, propelling it to the position of its seventh-largest holding. The firm completely exited positions held for nearly seven years—including Amazon, as well as Visa, Mastercard, and UnitedHealth—while simultaneously making a return to the airline sector after a six-year hiatus, investing $2.65 billion to establish a new position in Delta Air Lines. Bridgewater Associates, meanwhile, initiated new positions in TSMC and the Gold ETF (GLD) for the first time; it also increased its holdings in Amazon (elevating it to its top holding), Nvidia, Broadcom, and Micron. Conversely, the firm liquidated its stakes in Salesforce and ServiceNow, and trimmed its positions in Mastercard, Adobe, and others. Institutional capital is currently converging on AI computing power and safe-haven assets. How many of the stocks in your portfolio have caught the eye of these investment giants?

Big funds' 13Fs are out: betting on AI compute and safe havens

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HighTower Advisors LLC increased its stake in Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) by 14.2% in Q4, now holding 780,611 shares valued at $237.22 million. Other institutional investors also adjusted their positions, with notable increases from Fisher Asset Management and Bank of America. Analysts remain positive on TSMC, citing strong AI demand, despite geopolitical risks and recent stake reductions by some funds. TSM shares opened at $395.84, with a market cap of $2.05 trillion.

- HighTower Advisors LLC increased its position in Taiwan Semiconductor Manufacturing Company by 14.2%, owning 780,611 shares valued at $237.2 million as of the latest SEC filing.  
- Other institutional investors also adjusted their stakes, with Fisher Asset Management raising its holdings by 1.0% to 17.8 million shares valued at nearly $5 billion.  
- Despite positive sentiments regarding AI infrastructure demand, TSMC faces geopolitical risks and recent stake reductions by some funds that may impact investor sentiment.

Market Beat

VanEck Semiconductor ETF

GraniteShares 2x Long TSM Daily ETF

iShares Semiconductor ETF

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Bank of America

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The ongoing Iran war poses new risks for the semiconductor sector, particularly for TSM and NVDA, as rising costs for essential inputs like gases and metals threaten profit margins. Despite strong AI demand, companies like VAT Group AG are already feeling the impact, with significant sales losses. Analysts warn that prolonged conflict could exacerbate cost pressures, although the AI boom continues to drive stock performance. Firms with diversified sourcing and pricing power may better withstand these challenges.

- The ongoing AI trade is boosting chip stocks, but the Iran war introduces new risks by potentially increasing input costs for semiconductor manufacturers.  
- Companies like Taiwan Semiconductor Manufacturing Company and Infineon Technologies have warned that rising prices for gases, metals, and energy could strain profit margins, even as AI demand remains robust.  
- While the AI boom currently sustains investor interest, prolonged conflict may lead to higher costs impacting earnings, particularly for firms lacking diversified sourcing and cost management strategies.

Iran War Puts AI Chip Rally to the Test as TSM, NVDA Face Rising Cost Risks

Taiwan Semiconductor(TSM.US)

Taiwan Semiconductor Manufacturing Company Ltd. $TSM Stock Position Lifted by HighTower Advisors LLC

Iran War Puts AI Chip Rally to the Test as TSM, NVDA Face Rising Cost Risks

Tech investors loved this earnings season — but the Iran war is piling pressure on the companies powering the AI boom

Micron Stock's Worst 2-Day Drop In A Year: Is The Chip Bubble Bursting?

TSMC plans 1nm chip roadmap and up to 12 new fabs

Semiconductor exposure in S&P 500 hits 18%. That’s more than double the tech bubble peak.

ASML vs. TSM: The Better AI Chip Stock to Buy Now

Quant ratings on Coatue Management's top holdings: TSM, GEV, LRCX, AMAT, AVGO

Ignore the Foundry Fears and Keep Buying Taiwan Semi Stock

Duncan Williams Asset Management LLC Raises Stake in Taiwan Semiconductor Manufacturing Company Ltd. $TSM

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