According to Taiwan media reports, Morgan Stanley said that excessive inventory will cause the capacity utilization rate of mature processes to drop by less than 100% in the second half of the year. Status of plan redrawing. https://zhangyongbin.com/
Morgan Stanley further analyzed that the bargaining power of wafer foundries has weakened, and the risks of the consumer electronics cycle continue to rise. Therefore, it reiterates the world’s advanced “Neutral” rating, and the target price is lowered from NT$135 (the same unit below) to 100 yuan, because the production capacity will be difficult to fully load; also reiterates the “inferior to the market” rating of RSMC, and the target price is lowered from 49 yuan to 40 yuan, due to the high proportion of RSMC’s revenue from consumer electronics, which is also the previous price increase One of the most aggressive foundries, but as the cycle weakens,buy ios app reviews bargaining power will begin to reverse.
It is reported that TSMC and other major Taiwanese foundries have been operating their fabs at full capacity, but capacity utilization in the third quarter may be lower in the third quarter as many IC design companies request to cut wafer orders this quarter. decline.
In addition, Lin Boqi, MIC Industry Consultant and Director of the Information Policy Association, also analyzed that the major wafer foundries in Taiwan, China invested in capacity expansion last year, but it is expected that from 2023 to 2024, a large number of wafer manufacturing capacity will emerge, which is expected to be stable. Semiconductor supply and demand, but under the current decline in terminal demand, there are also concerns about oversupply, and the pace of subsequent capacity construction must be carefully planned.