Today's video focuses on some of the bullish analysis for Nvidia (NVDA -0.01%) and other semiconductor companies despite the fear of consumer spending decreasing. I also focus on Taiwan Semiconductor Manufacturing (TSM 1.27%), as it recently reported its first-quarter revenue and showed no sign of slowdown. Here are some highlights from the video.
- On April 13, New Street upgraded Nvidia to a buy with a price target of $280, and a BofA Securities analyst believes that current consumer spending headwinds could be offset by growth in other markets like data centers.
- TSMC reported its first-quarter earnings on April 14 and announced 35.5% year-over-year revenue growth. Strong demands related to high-performance computing (HPC) and automotive drove the increase. HPC refers to components dealing with emerging applications like artificial intelligence, 5G, and data centers. TSMC also believes that these two markets will drive second-quarter growth.
- Over 50% of TSMC's first-quarter revenue came from its advanced technology. 20% of total wafer revenue came from 5-nanometer wafers and 30% from 7-nanometers. Numerous semiconductor companies are expected to release 5-nanometer processors later this year.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closing prices of April 15, 2022. The video was published on April 15, 2022.