SEMICONDUCTORS
TSMC target price raised
An Asian brokerage has raised its target price on Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares from NT$530 to NT$600, citing strong demand for Apple Inc’s iPhone. The brokerage said that with Apple poised to unveil its iPhone 12 series that uses TSMC’s A14 processor, the chipmaker’s earnings will likely grow in the second half of the year. Apple is also expected to launch its iPhone 12 Lite next year, which would further boost TSMC’s bottom line, it said. TSMC shares closed down 1 percent at NT$444 on Friday in Taipei trading.
ELECTRONICS
Hon Hai project proceeds
An about 30m-high steel frame for a Hon Hai Precision Industry Co (鴻海精密) data center in Mount Pleasant, Wisconsin, has been completed. Hon Hai in a statement released on Thursday said that the installation of 642 glass panels would begin soon. The firm said it has so far invested US$750 million in the project, which is projected to cost about US$10 billion. It includes a sixth-generation flat-panel complex and is part of the Wisconn Valley Science and Technology Park.
LABOR
Number of furloughed up
The number of furloughed workers in Taiwan rose 1,566 to 16,865 on Tuesday last week, from 15,299 recorded on Sept. 7, the Ministry of Labor said on Wednesday, adding that the rise was due to shrinking demand for workers in the service sector during the COVID-19 pandemic. Department of Labor Standards and Equal Employment deputy director Huang Wei-chen (黃維琛) said that due to continued border restrictions, lodging businesses and restaurants continue to feel the pinch from COVID-19.
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Hon Hai Precision Industry Co (鴻海精密) yesterday said it would work with US chipmaker Intel Corp to jointly develop and deploy next-generation artificial intelligence (AI) infrastructure and intelligent computing platforms in a move to capture booming demand for AI computing systems. Hon Hai, also known as Foxconn Technology Group (富士康), said in a statement that the partnership would combine its global manufacturing scale, system integration expertise and AI data center deployment capabilities with Intel’s strengths in processor architecture, silicon technologies and software ecosystem. The companies said they plan to work on equipment used in AI data centers, including server racks powered by
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
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