0254 GMT - TSMC customers could ship as many chips as possible during the 90-day tariff pause, Morningstar's Phelix Lee says in a research note. The analyst thinks TSMC's 2Q sales guidance of 12% sequential growth is exceptionally strong, which could mean that customers are shipping more before President Trump's reciprocal tariffs hit. The tariff effects could be felt in 2026, when current inventories are depleted, he says. Morningstar thinks tariffs will lead to a 4% hit to TSMC's revenue next year in non-AI segments, with minimal change to the structural outlook. "The market may have underestimated the fall in demand for consumer electronics if sectoral tariff turn out to be higher than the 25% levied on automotive parts," he adds. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
April 20, 2025 22:55 ET (02:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。