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Taiwan Semiconductor Manufacturing Company (#TSM) shares are currently trading at $117.53, which puts them down -16% from highs of $141. Is this a buy on dip opportunity?
Earlier this morning, TSM announced Q2 earnings, which left analyst skeptical. The semiconductor company reported Q2 GAAP EPS of $0.93 (beats by $0.02) and revenue of $13.29B (misses by $20M).
Today alone shares slipped -5% on the revenue miss. But are investors missing the bigger picture? Taiwan Semi was able to book grow margins of 50%, operating margins of 39%, and are expecting to increase revenue for Q3 by +$1.4B. Is TSM a buy on dip opportunity?