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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。