Taiwan Semis May '24 Revenue Roundup. Looking Good Across The Board
ASPEED, WiWynn & Quanta in particular are outperformers this year
The majority of our Taiwan focus companies have already reported their May revenue numbers, ACER, Asus and ASE being the only exceptions. Things are looking pretty good across the board as far as YoY comparisons are concerned. ASPEED really stands out. We flagged ASPEED as a top pick based on its AI server exposure back in March 2024:
There we noted the following with regard to ASPEED:
With a TTM P/E of ~106, it’s not cheap by any means. However, as the year progresses and ASPEED starts to turn in solid YoY revenue growth and the uplift from AI server growth starts to become more obvious, I suspect that ASPEED’s share price will benefit nicely. Would probably make sense to wait for a better entry point than current levels though.
On the date of that publication, ASPEED closed at NT$3,320. That better entry point came around April 24 at ~NT$2,900. As of writing, ASPEED is currently trading at NT$4,715. Not a bad return in a little over a month!
Let’s now take a look at the latest revenue numbers for May. We focus in particular on TSMC, ASPEED, WiWynn, Quanta, Globalwafers and Nanya.
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