quarter for tsmc.slightly above estimates. and you are right, there are different segments to the semiconductor sector in which tsmc is involved, in terms of chips they are manufacturing for their clients. part of it is the memory chips. that is where the sluggishness comes through. chips that going to smartphones and laptops. the other side as you can say the demand for ai processors, and that has held up and helped tsmc to come through with results again slightly higher than estimates. it is worth noting that still if you look back at 2023, revenues did decline over 4% for tsmc. precisely because there has been this inventory buildup of those memory chips. clients are still working through them. executive saying they think they will profit from that in the summer. the demand for ai chips is starting to lift prospects. kriti: this is going to reverse the damage, the glut we have been talking about for two years now. tom: you could get arguably a sweet spot for tsmc in 2024 but the big question is, if

taiwan and huge giants such as tsmc -- lei-— tsmc -- lai. yes, ithink actually _ tsmc -- lai.i don't _ tsmc -- lai. yes, ithink actually i don't expect i tsmc -- lai. yes, ithink actually i don't expect to | tsmc -- lai. yes, | think - actually i don't expect to see the political issue we have impact for tsmc at this moment because they are a big company and they also start to have some factories outside taiwan, like in the us or in europe or injapan, i believe except the us, ithink injapan, i believe except the us, i thinkjapan's factories are going well. and also it is are going well. and also it is a big company, they have more than 50% and also... i think the political issues, especially the elections last week will not have a big impact to tsmc�*s progress in the coming years. to tsmc's progress in the coming years.— to tsmc's progress in the coming years. 0k, thank you. good to get — coming years. 0k, thank you. good to get your _ coming years. 0k, thank you. good to get your take - coming years. 0k, thank you. good to get your take on i coming years. 0k, thank you. good

tsmc forecasting growth this year.alysis on the way. ♪ >> i think when you look at the earnings announcement, psm see is about our industry and i think it was very impressive to see the growth chart for this year. typically tsmc is more conservative but the growth rate outlook is very strong. and it will grow about 20% this year. rishaad: that was idc vice president speaking to say bit earlier on. just take a look at that tsmc optimistic outlook. it is a forecast ever turned her growth this quarter that is already fueling this frenzy, optimism about all this is really responsible for the gains we have been seeing. it's all down to ai and which, according to bloomberg -- bloomberg calmness will be the main foreseeable growth. joining us asia tech analysts at bloomberg intelligence. i think you are saying your piece year. all it needs now, this is the semiconductor industry is for us to keep chatting with thoughts, create ai generated cap videos and write school essays and it's hunky-dory. the demise of this industry has

a case in point is tsmc.nvestment in arizona but not without significant challenge including difficulty in getting subsidies and workers issues. so the chinese government, whoever is the next president of taiwan, must work hard to assert the need and support from other countries to ensure that tsmc�*s overseas venture is a success. that tsmc's overseas venture is a succes— a success. you are an expert on shi -s a success. you are an expert on ships and — a success. you are an expert on ships and geopolitics _ a success. you are an expert on ships and geopolitics so - a success. you are an expert on ships and geopolitics so you - ships and geopolitics so you are a perfect guest to tell us about this. what does taiwan need to do to secure its industry?— need to do to secure its indust ? ~ ., ., industry? we need to remain the most cutting-edge. _ industry? we need to remain the most cutting-edge. so _ industry? we need to remain the most cutting-edge. so keeping l most cutting—edge. so keeping them in taiwan as

tsmc will report for the corner -- quarter results.ery in chip demand, data showing november marked the first time in a year global chip sales rose. the executive vp joins us from taipei. give us an idea of the robust demand for chips will be reflected in the results. >> good morning. i think for tsmc, this year has to get much better yield than last year. there were a lot of challenges last year. it is expected this year due to the utilization, it's coming up to 80%. the process notes beyond that, this is where the high-volume consumer-electronics customers like apple and even intel are utilizing the manufacturing capabilities of tsmc to bring out chips for the increased demand. for example the pc notebook market. haidi: i wanted to get to that because we've seen softness not only in the pc market but also the smartphone space. when can we expect the rebound and how much would that benefit tsmc? marco: that's correct. the biggest sales last year with a six and seven nanometers because they are used in smartphones and this dropped sign

companies on chipmakers like tsmc and how they are procuring their chips and where?f it is from china? i think what another are telling us, is that may be is status quo. that there will not be a big change in terms of sentiment, but how these chinese companies will navigate the changing state is key. a dpp windbag does in some ways secure taiwan's location as an independent location to fabricate chinese servers and the like. and maybe that means with the dpp having a better relationship with the u.s., that they will have better access to chipmaking equipment with the west as well, that could be something beneficial. but as you said, this global trend of derisking is not going to change with this election result from the u.s. being it with the like 50 -- you are seeing it with the likes of tsmc expanding in japan and arizona in the u.s. as well. decoupling is still something that might stay i think the pace of which that happens might go down if it is a dpp win. who is to say? at least for now, markets wise, people are taking it in stride. shery:. shery: with you for

taiwan will add spice to it, because it is a key player in the chip market, or rather their company, tsmc, almost everything that has an on/ off button has at least one, and often dozens or hundreds of chips inside. this. the refrigerator, the dishwasher is your coffee maker, almost everything that electricity runs through has a bunch of chips inside it and this makes the entire economy dependent on chips, most of these chips are made by only a small number of companies. tsmc produces 90% of the world's most advanced chips, and china spends a lot of money to buy chips from taiwan. taiwan's leading position in this market did not appear on its own, but thanks to western investments. chips are not developed on the island, but they are excellent... recruited; the best equipment and advanced installations for the production of semiconductors have been brought here for years. as a result, taiwan supplies almost the entire world, including china, with chips. however, the pace of supplies to beijing depends on western partners, and attempts china's efforts to establish its own production are met

it was made by tsmc, a five nanometer node made to make the processor.hat generation was made in 2020. it's not even the cutting edge and it wasn't made in china. caroline: what does it show about what huawei has been up to since 2020. 2020 was when tsmc was no longer allowed to sell. were they stockpiling to get the chip? ed: there was evidence that they were stockpiling chips that at the time or cutting edge and are now not. the latest generation of node is three nanometers used by tsmc and prevalent in many consumer electronics, like those made by apple. what we found in the teardown of the huawei laptop was a five nanometer produced processor carrying 906 c. two generations removed from the latest but one generation ahead of what we thought china had access to, even though it is still dated. caroline: these teardown's are so useful. ed: the thing about it as well is that you lift the lid, you get the analysis from the experts, you answer questions about where we are in the tech war supply chain. caroline: the share prices of some of those traded in c

we are watching shares of tsmc. it -- expects a return to solid growth. it raise capital spending in 2024, suggesting it anticipates a recovery in and markets like smartphone and computing. the main chipmaker for apple and nvidia is budgeting capx at $28 billion and a jump from last year. much more to come on that story. this is "bloomberg technology." ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. ed: let's get a quick check in on financial markets. in the equities market, mega cap tech having a good day. apple is the main focus of the program. biggest points mover on the upside on both the nasdaq 100 and the s&p 500. the philadelphia semiconductor index outperforming,

tech back in the driver's seat after tsmc's outlook drove a 160 $5 billion global rally in chip stocks. u.s. congress passes a temporary spending bill to avert a partial government shutdown this weekend and ensure funding for the next six weeks. the view from davos on interest rates. we hear from the blackstone ceo, the u.k. chancellor, and the german finance minister. as we digest all those headlines, quick check on markets because it's a really interesting dynamic. you are seeing outperformance in europe. you're a stocks higher 0.3%, perhaps following that asian story, the ftse 100 higher by zero .2%. is this the readthrough you see from the overnight session in the united states, having a ripple effect around the world, or perhaps cashing in given that we had risk off sentiment in yesterday's session? nevertheless, s&p futures slightly modest, but again, the tech story is dominating on the other side of the atlantic. a quick check on the cross assets story because a lot of people are talking about what the federal reserve might be doing not just in march, which seems to be the pivot

and whether that's core four, ai five, whatever you want to call it but microsoft nvidia, amd, tsmc and broad calm would be the key five names in ai so there's your ai five. >> we may take you up on that. we will give you credit. worry if we do. i do want to talk about tesla you just told our viewers that you no longer own it. i believe -- are you out completely? let's make sure i'm with you. >> yes. >> what are we to make today of this dumpster fire around the stock which really it is and how are we supposed to assess where this company is now and where the stock may go from here? >> we have to have a little perspective. they do make the best selling car in the world in the model why , and it's on a gross margin basis and operating cash flow basis it has been very profitable automaker, which a lot of its competitors, especially traditional oems can't brag about that. so is a company that is still well-positioned for the future. i think the question is, we have seen a slowdown in the overall auto market. that has hit both tvs and traditional ice cars, and so when you see that happen, it

scarlet: tsmc continuing to gain in trading. manus: there's asml.s not have, the technology you have here in the u.s., the apple in the microsoft, but has the chips and the gear makers for the chips. apple is a premarket. amd up 1.6%. scarlet: amd is seen as the second best option after nvidia because whatever nvidia cannot fulfill because it does not have the capacity ghosted amd -- capacity ghosted amd. mandeep: that sort of demand. even if they are a distant second, that's good enough to drive that kind of sentiment, but i still think the bar is much higher to drive those positive surprises, and that is what will probably restrict how much optimism we can have around the sector this year. scarlet: amd up 10% this year so far. manus: i made a mistake. magnificent seven levels. intel up 1% before the bell as well. they had a price rise from raymond apple had three downgrades and only one upgrade. scarlet: maybe things will change with the vision pro. preorder it now, available july 11. $3500 you will spring for me? manus: for you? mandeep: he is on

tsmc is so important and amazon and tsmc and small caps are probably a very good area to be in as weove forward. >> dryden, it's dom here. amazon at the top of the magnificent seven pick, staying away from apple, microsoft, meta platforms, tesla, alphabet, any of those big names, nvidia? >> prioritize amazon because -- and the little s. it's all a waitings game. apple won't have that much growth. tesla has some challenges in and of itself. the reason why we still talk about amazon is because if you take a look at the growth going on in online sales, amazon's 40% of that business. and because they are -- if we move over christmas we had 25% of retail coming online. if you take that and take amazon's part, that's a $300 billion opportunity that they have. we think they're going to do well through this. we think apple has slowing growth. apple doesn't grow much faster than procter & gamble right now. so if you take the magnificent seven, still love apple but overweight it and overweight the amazons. we think nvidia still has room to run. but again, the world is going to have to catch up

because the tsmc is data center, it's leading edge other technologies. i mean, look. by the way, the numbers today also show that intel is not closing fast on technology. i mean, they talk about adoption on their three nanometer. intel is outsourcing more of their foundries. i'm a shareholder, i didn't love that announcement. today was all about excitement you should have for tech and for tech spending chl. and the fact thatsemiconductors make a fresh new high is something that's notable. that was the story for '23, at a time when people really felt like we needed to see a broader market, and i know we don't have that broader market participation here, but it's taking the market higher. >> does it make you feel more bullish, guy? why are you laughing? of course not. >> yes. everything on the -- listen. very impressive day today without question. the vix moved yesterday has me somewhat concerned. the spike on the vix on a relatively benign market day. we've seen worse and the vix hasn't done nearly as much. so, there's some things out there that are concerning, but yes

both indices heavily impacted by the excitement about semiconductor stocks as we saw results from tsmcld a little movement, under the hood we know a rapid repricing of those expectations for march rate cuts. also new york crude, take a look, up about 2%, now over $74. jon: let's dig into some of the stocks on the move today. you referenced the bullishness in the chip sector today. at the top of the stocks index we are seeing continued outperformance from taiwan semi, setting the stage for this tech advance we have seen today. some encouraging outlook comments, ai-fueled of course these days. we are seeing investors give apple a fresh look. the stock has been struggling this year but bank of america bullish on the vision pro product. they think that can be a window into selling more hardware and services and they are more optimistic on iphone demand than some analysts have been recently. outlooks are going to be very important to stock performance. we are seeing that play out with these names as well. fasten all at an all-time high as the tool player really delivered come up more than 5

tsmc's outlook for capital spending and revenue is lifting hopes of a bounce back in smartphone chipster demand for between 24. other chip stocks like nvidia, tokyo electron gained more than $160 billion in market value after tsmc gave its outlook. and fast fashion giant sheen firmed up plans for a u.s. ipo last year but despite selling nothing in china, it will still be subject to review by chinese regulators. the revelation casts a cloud over the debut of an estimated $90 billion company that could be the fifth-largest computer company ipo of all time. the judge providing over epic games has challenged google's business model, wants to hear from expert economists, saying he is not confident about setting a fee for mobile app developers without expert input. google play currently charges commissions as far as 30% to software developers to fully don't have any other options. ai-powered wearables are taking on smartphones. a new crop of pins, sunglasses are coming to market, trying to challenge the dominance posed by traditional smartphones. we have been writing about this. i must say,

technology companies that rely extensively on tsmc?e advice don't worry about it, actually, ultimately you are going to continue to be able to get the supplies you need? or is it, may be it is time to think about de-risking that supply? ava: i think there would be minimal supply chain disruptions as a result of this election. as i mentioned before, it is in china's interest to not escalate too dramatically, and i think the trend of de-risking has been an ongoing trend in the u.s., as well as in its allied countries, and in taiwan. but in terms of semi conductors i think tsmc is going to keep the most cutting edge technology on the island. alix: de-risking is decoupling, it is this beat. i'm wondering if the election this week has the potential to speed up that de-risking? ava: i think the trend will still continue. i think, regardless of who wins the taiwanese presidential election, i think the candidates of both major parties, including the dpp and kmt have said they are interested in participating in the initiatives done by the u.s.

we have seen tsmc underperform a lot of the different tech stocks.t's also a different story if you look at the conflict in the middle east, the impact on oil. very often you can see an immediate impact in the markets. of course, that is also intersecting with the global demand picture, what opec does as a result. alix: oil near 69 when it comes to wti? doesn't seem quite reasonable on that end. in theory, if we are going to contend with hot wars bubbling up, panama canal where you have to pay a tanker to go through, relocate your chip factory, we are looking at an inflationary environment that we are not factoring in yet. marc: no question, we had this very long period of very low inflation, low rates, cheap money. it seems pretty clear that that is gone for a period to come. all of these things will play into that. all of the current wars, the war in ukraine has already played into that, instability in the middle east, especially if that were to expand as a conflict, which is a relatively high probability, i would say, compared to taiwan, for examp

you mentioned tsmc. it makes chips for apple in nvidia.hey pretty did revenue growth of at least $18.8 billion in the march quarter, much better than estimated. the semi indexes moving higher. on the downside, humana cutting its outlook because medical costs are higher. we heard this from unitedhealth last week. that stock got hit hard and you have another 10% on humana to that. it's quite interesting i think. i'm into it. guy: i'm interested but i think it is worth taking a step back. costs are still elevated. what does that tell you? inflation is still a factor that we need to fold into this debate. it tells you all the top line -- you see this with a number of companies -- the top line is moving. there's definitely a continued margin squeeze we need to pay attention to. while the top line is slowing little bit the cost pressure is still represented in many of the stocks that we continue to talk about. the market has moved already down a little bit. you have a bunch of single names moving around a bit. can you take some sort of bigger th

tsmc raising its outlook. humana, on the flipside, they are talking about higher medical costs. they have to reimburse doctors for insurance. those costs go up, they have to pay them. we heard that from unitedhealth health as well. the two year yield pretty much going nowhere. what i found interesting was three different things. one, fast melted well. that is a growth readthrough. you also had housing starts. not terrible. and you have building permits that were stronger. and initial jobless claims falling. it makes us question, is there actually a landing at all? that brings us to the question today. guy: fasten out. that is brooke sutherland's company. alix: cool. that was important. thank you for saying that. guy: just here to help. alix: no landing. that is the question we were talking about. are we going to have not a landing at all? bloomberg's michael mckee is joining us. what do you think? mike: if you go by what the fed is saying we are not having a landing. you go back to the beige book yesterday the main line was that there was little or no change in economic activity

tsmc is building a new factory. >> three facilities there.ere is big input in the semiconductor space, and the capacity of japan in the materials area, in the packaging area, there's no chip made that japan is not part of. stephen: you said the u.s. could act as fast as japan. what did you mean by that? >> on the security front. they have gone from 2% tomahawk counterstrike. later on today, we are going to have a u.s. navy ship get prepared here. if you have a hot conflict, you are not sending that ship back to san diego or washington state or hawaii. you have to keep it in theater, but we are not prepared. we have the jones act. we now do the licensing agreement on obviously the patriot. there's other types of weapons and equipment we can look at and think about how japan's industrial base could be part of the arsenal for democracy. one of the things i have been very clear about when it comes to basically maintenance. one example, oh god -- our ships off of human have been delayed going back to port in the united states because we are behind

that is, they are designed for a process of maximum 28 nanometers, this is a topology that taiwanese tsmcred more than 10 years ago, now it produces three three-nanometer processors and is building two factories for the production of already two-nanometer chips, however, 28 nm is quite relevant, if you do not take super-efficient systems, for example, a processor or ... reality apple vision pro or as it is called in cupertino , a spatial computing device will be released without applications of the most popular services , and netflix, spotify, youtube, that is, the largest global online cinema, music streaming, have already announced their reluctance to develop separate programs for the vision os platform. and video hosting, and this despite the fact that vision pro is being promoted to a large extent as a device for consuming content. experts name several reasons for this boycott: firstly, netflix, spotify, and youtube have a long history of rather complex relationships with apple, in particular, we are talking about the amount of commission that the cupertino corporation charges on all

there's a new round of political tension surrounding... dozens or hundreds of chips, tsmc produces 90%the most advanced chips in the world, and china is spending a lot of money to buy chips from taiwan. taiwan's leading position in this market did not appear on its own, but thanks to western investments; chips are not developed on the island, but they are assembled perfectly; the best equipment and advanced production facilities have been brought here for years semiconductors. as a result, taiwan supplies almost the entire world, including china, with chips, but the pace of deliveries to beijing depends on western partners, and what we have been doing for the last couple of years, they say that we have equipment, firstly, to prevent them from getting technology needed to make chips, we are not going to give it to you, secondly, we are trying to deprive the chinese private sector of the hiring market by discouraging people from working with chinese companies. in washington they offered to comrades from the middle kingdom not suffer with production, buy ready-made chips from... all selle

suppliers, and the likes of intel, taiwan semiconductor manufacturing company, or better known as tsmce largest chip manufacturer in the world of course, all of that is set to come out in the next few weeks out of the united states, and a lot more details for that will be quite significant to the growth of that sector within the united states. frances? >> okay, thank you for the breakdown. >>> still to come, a new box office champ tells mean girls you can't sit with us. >>> and grammy history from a legendary artist. new detas ilon a performance that's decades in the making. right after this. insu e. good thing the general gives you a break when you need it. yeah, with flexible payment options to keep you covered. so today is your lucky...day [crash] so today is your lucky...day for a great low rate, go with the general. this new charmin ultra soft smooth tear is soooo soft and soo smooth. new charmin ultra soft smooth tear has wavy perforations that tear so much better for a smooth more enjoyable go. charmin, enjoy the go. always dry scoop before you run. the hot dog diet got me shred

its biggest manufacturer, tsmc, is the ninth—most valuable business in the world.ve that story in a bit. our china correspondent laura bicker has been speaking to people in the province closest with the self—governing island. bracing themselves against the briskjanuary winds. these chinese tourists peer towards taiwan. in reality, sea fog clouds their view. undeterred, they make the most of their visit. this is as close as they can get to taiwan. they're banned from travelling to the self—governed island, which beijing claims as its territory and has vowed to take one day. translation: my biggest wish after visiting here is that - i hope the island of taiwan can return to our motherland soon. even if taiwan is taken back, i hope it's done via peaceful negotiations. in this way, there is no harm inflicted. if there is a war, the casualties will be huge. we want peace. but worries about a war barely register with these seafood workers. even though they live here on the taiwan strait, they have bigger concerns. translation: | don't care | whether it's reunified or not

tsmc set to report in just over an hour and a half. at that company as a bellwether and more of what is going on in semiconductor space. this is bloomberg ♪ c'mon, we're right there. c'mon baby. it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you get used to it. try these. they're noise cancelling earmuffs. i stole them from an airport. it's always something with you, man. great! solid! -greek salad? exactly! don't delay the game with t-mobile 5g home internet. catch it on the xfinity 10g network. rishaad: let's a look there in shanghai, the shanghai composite at the lowest level since april 2020. certainly not a good day for the csi as well, it is off the lows of the, this is the overall look at what is going on market wise. they are off their 90 minute long lunch break. a broad selloff taking place for these equities and perhaps what is china's loss is japan's gain. when etf was suspended yesterday and then got readm

tsmc has given a very optimistic outlook for the year.t quarter it was pretty good but this quarter we are still seeing -- the growth in semiconductor exports is a little bit stagnating for the first 20 days of this month. investors are waiting to see if the pickup we saw last year late last year is going to continue to improve. david: perfect segue. that in many ways underscores the softness coming up in d&d. >> it is a common factor, the ai side of the business is doing well. that will underpin the company's long-term future for most of them on a multiyear basis. but for a company like amd, the bulk of revenues still come from laptops, pcs, regular data centers, not the ai enabled ones. amd's guidance came in softer than expected and perhaps that is impacting the likes of samsung. it was just mentioned, the dram memory chip business which goes into pcs. we are going into softer economic growth. the notebook industry is facing a similar call. if corporate in consumers are taking a more caution approach, these companies are not seeing dem

samsung in positive territory, up 0.1%, sk hynix and tsmc also in positive territory.eaker than expected outlook from chipmaker intel, as shares plunge in extended u.s. trading. su keenan joins from new york. growing doubts now about intel's long promised turnaround. >> when you consider that disappointing outlook includes a double-digit decline in its core data center business. and also fails to live up to both the ai height and that turnaround expectations. intel's ceo told analysts that the company has about a $2 billion pipeline for a ship that suspected to compete with nvidia but no timeline given on that. you are looking at what intel's that is the first quarter adjusted revenue excitation, 12 point two to 13.2 billion, compared to what was expected. they see adjusted eps of $.13, versus an expectation of $.34. that's a big mess. intel's extended drop took peers down with it and is expect it to weigh heavily on tech in early u.s. trading. during the conference call, the ceo acknowledge that the first quarter not going as well as had been expected. he said the res

tsmc was good on thursday and japan's cpi tops the week. cpi expected at two and a half percent, down from 2.8%. david: ahead of the boj next week. more on taiwan coming up and on the fallout from the elections with the tpp, the ruling party winning the presidency but losing its majority. this is bloomberg. ♪ ♪ yvonne: still covering reaction to the taiwan election as we look up what another four years of tpp rule means. markets take it in stride but there were no surprises to the outcome. certainly a lot of color came through here, whether it was the yen and tpp losing their majority and what this means for governing in the next four years. well they have to go across party lines to get anything through in the advancement of his agenda. i want to bring in stephen engle. you were there on the ground, what was it like? stephen: there was extreme optimism. the tally started going up and it was on the big screen. many local tv networks are aligned to a party so i'm not saying they were funny numbers or anything. you were posting the kmt and th

modern technology, its biggest manufacture in that spaceis its biggest manufacture in that space is tsmcd which makes taiwan valuable but it puts it in a very vulnerable position if anything were to happen in that industry. the chip rivalry has been heating up across the world and across the strait. rupert wingfield—hayes has more on this and he has been to hsinchu and failed this report. this place has been described as taiwan's silicon shield. this is hsinchu, about an hour and a half's drive south of the capital, taipei, and this is now the global centre of semiconductor production. behind me here in this very bland—looking building, this is taiwan semiconductors fab plant, or one of many of them in this city. and inside here are some of the most advanced manufacturing processes anywhere in the world. this is where they make the really cutting—edge chips, the five nanometres, or recently, they started production of three—nanometre chips. these are the things that go into all of our high—tech devices — our mobile phones, our laptops, our cars, and increasingly the smart devices in our

gdp figures from germany, ppi from japan, australia and jobs data and tsmc data.loomberg will be in davos for the yearly meeting of the world economic forum, business leaders and bank heads will gather to discuss the theme of rebuilding trust amid the backdrop of geopolitical tensions. our next guest says the u.s. economy is running hotter than projected and she is leaning neutral when it comes to markets. hillary kramer from kramer capital research joins us in new york and it is always good to have you with us so when you say neutral it is still slightly more constructive as you were at the end of 2023. >> i am still passive but it has to do with so much rotation into other stocks and large investment houses finding opportunities in specific companies. it will not really be about indices this year. shery: you said the u.s. economy is a little hotter than expected and we are getting conflicting data. cpi numbers and ppi numbers surprising to the downside. a bumpy road ahead. how do you invest? >> find the undervalued stocks, the companies that still have a role an

whoever becomes the next president of taiwan must work harder to help support tsmc's efforts to developn needs to continue to maintain the most cutting edge chips in taiwan and we also recognize the geopolitical pressure that we are under, and the need to diversify it. stephen: what is next for the kmt if you do lose for a third consecutive election? and should the chairman step down? jason: we were so unfortunate -- if we were so unfortunate to lose tomorrow, i think we would see a change of older leadership and probably more younger and more progressive kmt up and coming politicians will probably demand a stronger change of the party line. stephen: it is going to be an interesting 24 hours. the third party candidate as well kind of shows the people want a different narrative. we will be in touch with you as well. jason hsu, he is an advisor to the kmt's presidential hopeful on foreign policy and national security. we will be watching this closely. back to you guys. rishaad: we have the former -- [indiscernible] the un security council in this latest ratcheting up of tensions as we had

tsmc has reported last week giving a positive outlook for 2024.sml which is a major bellwether for the semiconductor industry just reported bullish orders for the courtroom which sent their shares to a record high. so it could potentially move the stock. paul: potentially, that is a staggering difference. in terms of stock movement today, we are up 60% on year. what kind of movement can we expect to see at the open? >> i think given the asml's performance overnight, it surged to a record high and that is a really big move in the semiconductor industry. so i think the setting is really positive and they just reported earnings that beat expectations in a big way. it could potentially move the korean stock market as well. paul: your technology senior reporter yoolim lee in seoul on the sk hynix numbers. we will discuss boeing a little more and the breaking news. we will have a little more of what to expect from markets on daybreak australia. this is bloomberg. ♪ paul: let's take a look at how boeing is doing with shares falling 3% after the news that

ed: there's always big focus on tsmc. samsung is a heavyweight in the market. ian: that is right. everyone focuses on them. memory is a commodity, great. they are the second-biggest contract manufacturer. they have had big customers like nvidia and apple have some serious capabilities and they are ahead of the third guys, intel. ed: the basics of the story reported friday is it is a lot of money because chip factories cost a lot to make and a long time to make but it is this anxiety that in the future supply of a specific chips will not be there to meet demand. it is different from what we previously reported, the idea openai wants to take on some of its biggest suppliers come like nvidia. it does not seem to be a design of their own ship, just guaranteeing when the time comes you can get your hands on what we call ai accelerators. ian: that is right. openai, all these chip designers have a shared interest and goal. they believe ai is going to be pervasive in the economy and technology. according to some projections, it will be more chips, a high end logic chip. if you believe tha

an upgrade for apple, tsmc lifting the apple for chipmakers, a lot of you can make money the hard waya bullfighter or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have connected to america's most reliable 5g network. sure is a lot safer than becoming a stuntman for money. get a free line of unlimited intro for a year when you buy one unlimited line. plus, get the new samsung galaxy s24 on us. >> disinformation or misinformation, the election interference is going to be a challenge that we all have to tackle. >> we are talking about donald trump in europe and he should -- we should prepare ourselves for a possible second term and for donald trump fostering our european competitiveness. >> the best defense if that is the way we want to look at it is attack properly to be strong at home. that means having a strong, deep market. having a real single market. >> we have two trillion dollar deficits with no end

tsmc, the world chip maker.heir net income falling less than expected, another sign that a chip industry downturn may have bottomed out. tom, walk us through these numbers. what do we need to know? tom: q4, you're absolutely right in terms of sales and operating mar jaden profit it was beat across the board. really interesting when you break out the results. you see the sale, the demand for smart phone chips came in higher than for artificial intelligence chips. that is in the fourth quarter. you round out the picture for 2023, we talked about this before. the full year of last year, the tension was between the slump many smart phone demand vs. the frenzy for a.i. chips. it was the a.i. chips that made up to some extent slump we saw for smart phone chips. fourth quarter is really interesting. you're seeing a turnaround. beats across all of these different metrics. it is the smart phone growth coming through. a lot of that is coming from potentially samsung and its orders. the chairman is going to be stepping dow

correspondent rupert wingfield—hayes reports from hsinchu, the home city of taiwan�*s top chip maker tsmc hour and a half�*s drive from the capital taipei and this is another global centre of semiconductor production. behind me in this very bland looking building, this is taiwan�*s semiconductors fab plant or one of many of them in this city. inside here, some of the most advanced manufacturing processes anywhere in the world. this is where they make their really cutting—edge chips, the five nanometres or recently based started production of three nanometre chip. they go into all the tech two high—tech devices, mobile phones, laptops, cars and increasingly the smart devices in our homes. die now produces more than 50% of all the semiconductors in the world but here they produce over 80% of the really, really cutting—edge chips. that is why, if you like, the outside world needs to be interested and concerned about what happens to taiwan�*s. it is why countries are saying some of this manufacturing needs to move elsewhere, to america, europe and japan. that�*s because taiwan is under threat

slower growth, shares are down 20% in the last six months during that time, lvmh was surpassed by tsmc as the hottest company. let's bring in our guest this morning. javier, good morning >> thank you, frank. >> let's start off talking about lvmh they report later today. according to you, the leather goods segment includes the ironic louis vuitton bag this is a bullish sign for the sector tell me in the first half the year where they had 20% growth and now this drop off. what does it mean? >> we know about luxury sector right now is in the middle of the perfect storm with the slowdown in the consumer in the u.s. and we had travel still restricted globally. the chinese consumer is under pressure on many fronts. we have seen a slowdown of growth in the sector as you pointed out rightly with the bellwether stock of lvmh has shown that decline in the last six months i think what the market or investors are looking for is understanding better whether we are closer to the bottom of the earnings cycle revision. i think things are likely to get tougher into q1 and q2 you have higher comparative

if tsmc supply chain is disrupted, that would harm the entire industry in the global economy. is an important issue we are monitoring at genison. ed: a lot of covered ground there, great discussion. it to have you on the program. coming up, more from davos next. this is bloomberg technology. ♪ ed: it's time for talking tech. saudi arabia sovereign wealth fund is planning to make big investments in both the semiconductor and space industries this year. the kingdom has been ramping up efforts to diversify its economy away from oil. speaking of semiconductors, chip design company has agreed to buy software to lever -- developer ansis for $34 billion in cash and stock. the deal is set to expand its customer base and slate of products and netflix is testing a joint plan with french retailer car for in a pilot project to win more customers to its cheapest subscription come mimicking a model used by amazon to boosted streaming customers. if enough users side of the trial, it will expand the offer to its customers all across france. the world economic forum is underway in davos. the o

. >> investors are still encouraged by ai and tsmc is a big supplier to nvidia. stuart: got that right. coming up. after four years the justice department finally admitted hunter biden's laptop content is legitimate. what took them so long, progressive congress when jamal bowman wants $14 trillion for reparations in the defendants of enslaved black people. where does that make him from? bowman says we should do it would. with covid, print the money. doesn't he remember the inflation that started when we printed a ton of money from covid. that's "my take," top of the hour. senator john thune wants a cap on how money migrants are paroled into this country. how do you place a when the it ministration doesn't have control of the border, the senator is here next. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endl

we get results from goldman sachs and morgan stanley and tsmc and a number of other names.n the economic side, we get retail sales and consumer sentiment figures and housing starts and existing home sales as well as weekly jobless claims we are getting the latest fed beige book and peekspeaking of central bank, we have more speakers before the blackout period we have our latest guest with us. >> good morning, frank >> the dow would open up 170 points lower what do you make of that >> we have been saying everything is taking the qs off the bond market. the yield is higher and the equity markets are under pressure bonds are not diversifying stocks like they used to it has been 5% to well below 4%. it is coming back to 4%. we think there are a lot of good yields with the short end of the curve. we think the long end settles at 4% when yields are heading higher, that's when you put pressure on stocks. >> according to your notes and research, you believe that most of the action in the markets boils down the moves in the bond the ten-year bond above 4% t how that is influencing t

tsmc is off by zero point 1%.omberg technology. ♪ as the head of hr, i help lead a successful home security firm. our teams work hard to secure our customers' most valuable assets. and while they do that, i work hard to secure ours... ...our people. that's why we chose principal to provide the benefits and retirement plan that show our people just how much we appreciate them. benefits help us keep top talent. —hey mom. benefits help us grow. because we know how important security is to all. ♪♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. ed: electric boat startup navy is parting with stripe to ferry employees to work. it's already hosted profile names like elon musk on its boats and the ceo joins us to discuss a big step for this startup. you and i have spoken a lot about the underlying technology. it's a battery electric hydrofoil boat a

taiwan market with the chip sector doing incredibly well on the back of the super bullish guidance from tsmc. the nikkei seeing some very nice gains here up 1.4%. december inflation came in lower than expected. that is not putting any pressure on the boj to move away from negative interest rates any time soon. >>> let's look at the european trading picture. ftse 100 is up .50%. for the week, it is tracking for a decline of 1.5%. remember that hotter than expected inflation print we got earlier this week. this morning, we got retail sales which saw a miss down 3.2%. the dax is seeing nice gains here of 0.2%. overall, this week had a big re-pricing of interest rate data. we are still looking at losses for the european indices. that means we would have seen three weeks of losses in a row. back to you, frank. >> carolin roth in the london n newsroom. thank you. >>> turning to washington, d.c. and lawmakers hammering out a deal to avert a shutdown which was scheduled to take effect at midnight tonight. we have brie jackson joining me from washington. brie. >> reporter: frank, this pushes the dead

it updates stakes in -- upped its stakes in that valuable to firms nvidia and tsmc, as well as chip equipmentducer asml. the fund reports results for the full year later today. talking of what else is on the agenda today, we will hear from the ceo of norges bank investment management at 710 and u.k. time -- 7:10 a.m. u.k. time. also on the agenda, u.k. mortgage approvals at a time where a number of high street banks are lowering their rates on mortgages. you are seeing a tick up in terms of the property sector in the u.k. for december. those mortgage approvals seen coming in at 53,000, up from november. we get a slew of euro area data. specifically, gdp data. we will break the french data in the next few minutes. that will come out throughout the day. the expectation is quarter on quarter will be flat across the euro zone. alphabet and microsoft both reporting earnings later today. we will look at the ai component of those earnings. french farmers use tractors to block roads around the capital as unions threaten a siege of >> good morning. this is bloomberg jay baker. these are the stories th

the awards are the degree to intel as well as foreign firms like tsmc.from a $39 billion bill president biden signed into law more than a year ago is been slowed to trickle out with only two small grandson on so far. intel's el is trying to reinsure -- reassure investors of company is on track to make a comeback. shares tumbling more than three years. gelsinger told us the market reaction went too far. >> we finished a great year. 24 be at the top and bottom line finishing a was comfortably ahead. and we believe we are putting points on the board for a long-term transformation of this iconic company. in light of that, q1 at the low end of seasonal, so we think the market reaction is a bit overstated in that respect. our company, our employees are doing an incredible job of delivering our process technology, storing product leadership, defining new categories. we are on a multiyear journey and we will not be judged on a 90 day shock lot. we had a great 2023, and i am confident integrate 2024. >> for a global audience of contract manufacturing business whe

i'm talking about tsmc. back to you, kim. >> we'll find out in a couple of hours.so much. >>> u.s. launches a new wave of strikes on houthi targets in yemen. but as western missiles rain down, houthi leaders try to win political points at home. we'll explain that coming up. stay with us. get over here kids. time for today's lesson. wow. -whoa. what are those? these are humans. they rely on something called the internet to survive. huh, powers out. [ gasp ] are they gonna to die? worse, they are gonna get bored. [ gasp ] wait look! they figured out a way to keep the internet on. yeah! -nature finds a way. [ grunt ] stay connected when the power goes out, with storm ready wifi from xfinity. and see migration in theaters now. >>> the ralatest on the strikesn yemen. the "uss carne" hit a radar site according to central command. strikes were reported in sana, the second strike on houthi targets as n as many days. the before and after images show the damage at one of nearly 30 sites hit by the u.s. and britain. the strikes are response to houthi attacks on commercial shi

tsmc, the chip maker for apple devices fell 3% yesterday and another percent today.-- down another 2% or so. qualcomm fell another 2% today. these companies supply a lot more than just apple but the size of apple means there is a lot of revenue exposure for all these names. we are going to get earnings from apple here in a couple of weeks and it will be telling about apple and all of the suppliers especially commentary on the march order which in the downgrade yesterday, the analysts predict will be weaker than the streak is expecting. >> i know this is a hard question and maybe a naove one but as you look at the stock price declines of those suppliers, are the declines commensurate with the percentage of revenue that is traceable to apple? >> in some cases, yes and in some cases, no. there have been some suppliers where they get 80% of their income from apple. it is also a signal that other consumer electronic demand is falling. >> qualcomm does not do open business at all. >> neither does broadcom. it is also a signal that if people are not buying iphones, they are

tsmc expecting a recovery after a trough last year.fell yesterday on an accounts probe by hedge fund gotham city research. gotham is questioning grifols. they're denying any wrongdoing. >>> coming up on "worldwide exchange," the one word investors need to knowand why our next guest says don't be fooled by the market's stumble. why she says the rally could regain its momentum. >>> if you haven't already, follow our podcast. check out apple, spotify, or other podcasts. more w.e.x. coming up. >>> welcome back to "worldwide exchange." taking a look at nasdaq 100 gainers, intuitive up 4.5%. along with crowd strike and marvell technology over 1% and nvidia hitting all-time highs. on the other side the nasdaq 100 laggards. fastenal down by over 1.5% followed by sirius xm radio. on sesemiconductor down almost . >>> boeing's ceo david calhoun talked about the landing and missteps and the grounding of the 737 max-9 planes. calhoun said they'll cover their mistakes with complete transparency along with investigations. you don't want to miss an ex

makers as well as foreign firms including tsmc and samsung to help them build factories in the u.s.. from the $39 billion bill the president nine into law more than a year ago has been slow to trickle out, with only two small grants announced so far. intel ceo meanwhile is trying to reassure investors that the company is on track to make a comeback. first-quarter sales and profit forecasts fell short of estimates and that sent shares tumbling the most in years, but the ceo said the market reaction went too far. >> first we finished a great year. we had q4 beat in the top and bottom lines, finishing a year that was comfortably ahead. showing a transformation journey we are on. and we believe we are putting points on the board for a long-term transformation of this iconic company. in light of that, q1, at the low end of seasonal. so we think the market reaction is a bit overstated in that respect. we understand it, but our company, our employees are doing an equitable job at delivering a process technology, restoring product leadership, defining new categories like the ai pc. we are on

big gains having gained 8% with tsmc up 14% last week. the average number on nvidia is 672.that is 14% above friday's level. does that tech counter and growthi continue for the rest o the year? that is it for "street signs." thank you for joining us. and golo is the plan that's going to help you do that. just take the first step, go to golo.com. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. hi. i'm wolfgang puck when i started my online store wolfgang puck home i knew there would be a lot of orders to fill and