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Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shares are trading lower Wednesday. ASML Holding N.V. (NASDAQ:ASML) reported worse than expected results pre-market, and TSMC is set to report earnings Thursday.
The Details:
ASML reported earnings of $3.38 which missed the $3.43 per share estimate and sales of $5.75 billion which missed the $6.13 billion analyst estimate.
TSMC is set to report its first-quarter financial results before the market open Thursday and will host a conference call to discuss the results at 2:00 p.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of $1.32 per share and quarterly earnings of $18.395 billion.
TSMC reported fourth-quarter earnings of $1.44 per share and revenue of $19.62 billion, both figures beating analysts’ estimates.
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Interest rates play an important role in the equity markets. When rates are high, it can discount the present value of future cash flows, which can put pressure on growth stocks such as Taiwan Semiconductor. This is because the majority of Taiwan Semiconductor's profits are expected to be realized in the future. Higher interest rates increase a company's cost of capital. If you're curious about learning about stockholder equity and how the balance sheet is evaluated, check out the resources here.
Long-term investors should also look at a company's historical revenue growth and decide whether they think it is likely to increase, slow down or remain stagnant. Taiwan Semiconductor's revenue has grown at an average rate of 28.74% annually over the past 5 years.
Taiwan Semiconductor operates in the Information Technology sector and has a forward P/E of 22.94, suggesting it is considered a value stock. Investors in growth stocks will generally focus on the company's future plans and industry growth, while value investors will see stable revenue streams and dividend growth.
TSM Price Action: According to Benzinga Pro, Taiwan Semiconductor Manufacturing shares are down 0.76% at $138.74 at the time of publication Wednesday.
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