Overview
- Bank of America reports long-only investors bought non‑U.S. equities in February and sold U.S. stocks, with roughly $17.6 billion flowing into Emerging Markets and $14.9 billion into Asia Pacific as U.S. equities saw about $69.5 billion in outflows.
- TSMC is the most widely held stock by long‑only funds at roughly 92% ownership globally, and BofA places it among “crowded positives.”
- Morgan Stanley highlights a new supply‑chain risk from a potential Strait of Hormuz closure and Taiwan’s LNG reliance, noting TSMC uses an estimated 9%–10% of the island’s electricity.
- TSMC posted February revenue of NT$317.66 billion, down 20.8% from January, with combined revenue for the first two months up 29.9% year over year.
- To meet surging AI demand, TSMC plans $52 billion to $56 billion in 2026 capital spending, as analysts cite hyperscaler capex around $650 billion this year and McKinsey projects about $7 trillion in AI data‑center buildout by 2030.