JP Morgan Discusses Taiwan Semiconductor Earnings

JP Morgan analyst Rod Hall discussed Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE: TSM) earnings saying, "TSMC beat expectations on Q4 results, and proceed to issue very strong Q1'15/2015 guidance."

Hall further mentioned several key highlights from the company's conference call.

• “1Q15 revenues to stay flat Q/Q, much better than street expectations.”
• “2015 growth is likely to be several points higher than Foundry growth of 12%.”
• “20mm revenues to stay flat or grow every quarter in 2015.”

Hall also added that the company is, “upsizing capex to $11.5-12bn (market estimates at $10-10.5bn).” The firm maintained a Neutral rating on Taiwan Semiconductor.

Taiwan Semiconductor recently traded at $22.76, up 8 percent.