In this episode, Ben and Jay analyze the latest developments in the semiconductor industry, focusing on TSMC, ASML, Air, and the broader market implications of AI and chip manufacturing advancements. They explore how these trends impact supply chains, CapEx, and future growth prospects. Key Topics: TSMC&#x27;s CapEx increase and demand signals ASML&#x27;s capacity expansion and high NA EUV technology Air&#x27;s role in semiconductor testing and optical advancements Market sentiment and investor rotation in semiconductors The impact of AI on chip demand and manufacturing

Ep 184: Earnings TSMC/ASML/AEHR, State of AI Semis

The Circuit

Hello everyone, welcome to another episode of The Circuit. I am Ben Bajarin. Greetings agents, I'm Jay Goldberg. All right, so we had a good week of earnings, a lot of interesting stuff happened this week, more so than we're going to get to in our allotted time. But you know, we do like the names of companies that we tracked this week. So things like TSMC and ASML and AIR who largely are kind of just again,

giving us a lens and a view of what's happening in manufacturing and foundry and wafer equipment materials. Lots of good stuff to unpack on that. So we're gonna start with TSMC, you know, who we've typically constantly said like was a bellwether indicator of the space. I'll let you start the numbers and then let's unpack some of the commentary and the demand signals that they're seeing.

Sure. So TSMC reported Q2 revenue ahead of expectations, EPS ahead of expectations, and they guided revenue up for next quarter as well. Not by a ton, but by, well, certainly above sell side consensus, probably not so high above buy side expectations, but above. And then margins sounded very good. So strong numbers across the board and probably most significant, they also

raised their CapEx forecast, which, yeah, I'm not sure everybody else we're going to talk about. And I think it was, I mean, I don't know what your read was, but most people assumed they were going to raise. I don't know if they knew how much they were going to raise. I was seeing people assume in the 60s, which is what they raised it to, but I don't know if everybody was like, for sure, you know,

Ep 184: Earnings TSMC/ASML/AEHR, State of AI Semis

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Ep 184: Earnings TSMC/ASML/AEHR, State of AI Semis

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.