|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||18.88 - 20.00|
|52 Week Range||5.19 - 27.54|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||119.56|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.70|
The founder of China's largest chipmaker SMIC said on Tuesday he was "optimistic" China could catch up with the United States in the next generation of semiconductors but that U.S. efforts to contain its technology sector could not be taken "lightly". Richard Chang, also the former CEO of Semiconductor Manufacturing International Corp (SMIC), told a livestream forum that persistent research and development as well as investment in new raw materials would enable China to compete, according to an official transcript on Wednesday.
SMIC, China's biggest chipmaker, in a stock exchange filing said it would partner with Beijing Economic-Technological Development Area Management Committee (BDAC) to develop facilities to produce 12-inch wafer, a slice of semiconductor used for the fabrication of integrated circuits. The first phase of the project will have an estimated investment of $7.6 billion, with SMIC contributing about 51% of an initial registered capital of $5 billion. The agreement comes as SMIC looks to build out foundries for the manufacture of computer chips that can compete with those operated by Taiwan Semiconductor Manufacturing Co Ltd, the industry's market leader.
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. kept up its record-breaking streak Tuesday, briefly becoming the world’s 10th most valuable corporation before paring gains.Taiwan’s biggest stock was up around 1.2% in Taipei, after rising as much as 9.9% and going beyond $410 billion in value, leapfrogging U.S. giants Johnson & Johnson and Visa Inc. in the process. Daily stock moves are capped at 10% in Taiwan’s equity market.It’s difficult to overstate the influence that TSMC wields on Taiwan’s financial markets. Making up almost a third of the local benchmark, it has single-handedly pushed the Taiex past a record that had stood for three decades. Its rally is attracting foreign flows into Taiwanese equities, increasing demand for the local currency. The Taiwan dollar rose 1% Tuesday to the strongest since April 2018.The latest boost to TSMC’s shares came after Intel Corp. warned last week that its 7-nanometer chips are behind schedule and it may outsource their production. The U.S. chipmaker is expected to funnel new business to TSMC, given its global lead in silicon fabrication and track record of making semiconductors for the world’s largest tech corporations.Intel’s struggles are buoying stocks in Asian suppliers of made-to-order chips. Samsung Electronics Co., which is investing heavily in its own foundry business, jumped as much as 5.8% Tuesday, its biggest intraday gain in almost two months. Chinese rival Semiconductor Manufacturing International Corp. climbed 6.6% in Hong Kong.“Samsung Electronics’ position as a foundry partner is expected to rise. Korean investors anticipate that Samsung could produce Intel’s CPU and discrete GPU,” Hana Financial Investment analysts wrote in a note. But “to narrow the gap with TSMC, it is essential for Samsung to expand its Austin fab.”A report on Monday suggested that Intel had placed orders with TSMC for 180,000 units of 6nm chips for 2021. Meanwhile, brokerages including Nomura Holdings Inc. and Credit Suisse Group AG upgraded TSMC to the equivalent of buy.(Updates with share price and analyst comment from first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.