markets

Luke Kawa7/10/25

TSMC dips despite posting surprisingly strong second-quarter sales

TSMC is slumping despite posting a pretty solid set of sales for the second quarter.

The world’s biggest chip supplier reports monthly sales figures, which effectively serve as an early window into its quarterly report (slated to be released on July 17). Its June sales numbers show that revenues totaled nearly NT$934 billion, ahead of the consensus estimate for NT$928 billion.

CEO CC Wei reaffirmed the company’s full-year guidance last month even as TSMC faces a stiff headwind from a surge in the Taiwanese dollar, which weighs on profitability. Analysts are saying that in light of the currency swing, these sales numbers are even stronger than they appear if you look at them in US dollar terms. (A US dollar buys about 29 Taiwan dollars at current rates, down from a recent peak of about 33 Taiwan dollars in early April.)

The results are kind of a microcosm of markets in 2025: the strength of the AI boom overwhelming broad trade-related risks.

That being said, shares were trading as much as 1.5% higher in the premarket, but gave up all those gains to trade 1% in the red in the regular session.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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