-- With Taiwan Semiconductor Manufacturing Co. still trading at pedestrian valuations even after surging to a record high, there is potential for its upcoming results to drive the stock even higher.Powell Signals Rate-Cut Delay After Run of Inflation Surprises
The company has projects underway to build plants in the US, Japan and Germany as it moves to serve global demand and diversify its geographical footprint amid tensions between China and the West. “We expect demand and sales growth to be higher for longer than what is currently priced into the stock,” said Peter Garnry, head of equity strategy at Saxo Bank. “A negative of course is the growing need to derisk its manufacturing base out of Taiwan as it increases its capex needs, lowering free cash flows. However, these new chips manufacturing sites outside Taiwan are needed to keep servicing the high demand.”Amazon.com Inc.
The US Securities and Exchange Commission has blocked third-party messaging apps and texts from employees’ work mobile phones, bringing its own practices closer to the standards it’s enforcing for the industry.Rupture on TC Energy's NGTL gas pipeline sparks wildfire in Alberta A voting technology company targeted by bogus fraud claims related to the 2020 presidential election settled a defamation lawsuit Tuesday against a conservative news outlet. The settlement between Florida-based Smartmatic and One America News Network is the latest development in a larger legal pushback by voting equipment companies that became ensnared in wild conspiracy theories falsely claiming they had flipped votes and cost former President Donald Trump reelection.
Canada's main stock index tumbled to its lowest point in over a month on Tuesday, dragged down by materials shares, with Barrick Gold tumbling after missing analysts' expectations with its first-quarter gold production. The Toronto Stock Exchange's S&P/TSX composite index fell 97.3 points, or 0.45%, at 21,642.87. Barrick Gold and First Majestic Silver reported a fall in first-quarter gold production, that dragged down their shares.
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