Overview
- TSMC reported a record second‑quarter revenue of NT$1.27 trillion (about $39.6 billion) and disclosed a 68% year‑over‑year spike in June revenue, a late‑quarter surge that market reports published on July 13 tied to rising AI orders.
- Company statements and analyst reporting attribute the gain to demand for AI infrastructure chips from customers such as Nvidia and Apple, with AI‑related products forming a materially larger share of TSMC’s sales and gross margins rising sharply.
- SK Hynix completed a large U.S. ADR listing that raised roughly $26.5 billion on July 10, and its strong debut was followed by rapid profit‑taking that helped trigger a broader selloff in memory stocks.
- The sector has turned volatile as investors reprice expectations: the Philadelphia Semiconductor index pulled back from June highs and funds tracking semiconductors recorded about $11 billion of outflows in late June while short interest has also risen.
- Markets now await near‑term tests that will decide whether current prices and margins hold, including hyperscaler capex cadence, memory makers’ capacity expansion plans from firms like SK Hynix, Samsung and Micron, and upcoming earnings and macro signals such as oil and Treasury yields.