The share price slump that has erased about US$100 billion from the market value of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) this year means little to the legion of analysts who see the stock as a screaming buy.
TSMC shares are expected to climb about 50 percent to a record high 12 months from now, according to sell-side analyst estimates compiled by Bloomberg, as macro headwinds buffeting the sector ease and investors focus on the company’s fundamentals.
Fund managers are also starting to view an end in sight to the rout, and TSMC chairman Mark Liu’s (劉德音) Wednesday forecast for 30 percent
Fears of talent poaching revived
BITMAIN PROBE: Prosecutors said the Chinese firm set up a new entity in China with a Taiwanese engineer as chairman, who recruited his former colleagues in Taiwan
Bloomberg
An investigation into illegal talent poaching by Beijing-based Bitmain Technologies Ltd (比特大陸) has revived fears that Chinese companies would target Taiwan’s top engineers as their country works to build a world-class chipmaking industry.
Investigators on Tuesday descended on the offices of Bitmain’s two Taiwanese units New Taipei City-based WiseCore Technology Co Ltd (智鈊科技) and Hsinchu-based IC Link Ltd (芯道互聯) and interviewed 19 people in a probe into whether the cryptomining start-up had contravened the law, New Taipei District Prosecutors’ Office spokeswoman Chang Jui-chuan (張瑞娟) said.