Reported 8 months ago
The NASDAQ fell by 1.1% on June 25, 2024, while the Philadelphia Semiconductor Index plummeted by 3%, with NVIDIA dropping over 6% and TSMC ADR falling by over 3%, initially dragging down Taiwan stocks by over 300 points. However, TSMC and Hon Hai rebounded, with TSMC closing at a high of 22,875.97 points, up by 62.27 points. TSMC closed at a peak of 945 Taiwan dollars after fluctuating throughout the day, while Hon Hai soared over 2%, closing at 211 Taiwan dollars. Foreign investors have been selling TSMC shares for three consecutive days, but remain overall buyers of Hon Hai in June. Asian foreign investors have raised TSMC's target price from 1,025 Taiwan dollars to 1,370 Taiwan dollars due to increased orders from AI and HPC, with TSMC potentially raising prices by 5-10% in early 2025. On the other hand, US foreign investors have raised Hon Hai's target price from 227 Taiwan dollars to 257 Taiwan dollars, noting that the shipment momentum of iPhones and AI servers is crucial for Hon Hai's future growth.
Source: YAHOO