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Citi's Investment-banking Revenue Tracking 50% Above Year-ago Level
By Steve Gelsi CFO Mark Mason projects strong second-quarter growth as deal-making rises, while touting long-term growth of its services unit Citigroup Inc. financial chief Mark Mason said Tuesday t
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Citigroup (C) Q2 IB Fees to Surge 50% on Upbeat Capital Markets
Taiwan Semiconductor's market cap approaches $1 trillion as major Wall Street firms like Goldman Sachs raise their target prices.
As Taiwan Semiconductor's market cap approaches the $1 trillion mark, the call for optimism is getting higher. Several Wall Street brokerages raised their target price for Taiwan Semiconductor this week, citing the surge in demand for AI-related products and potential price hikes in 2025 that will boost Taiwan Semiconductor's profits. The most optimistic is Goldman Sachs, which raised its target price by 19% to NT$1,160, as it expects the manufacturing prices of 3-nanometer and 5-nanometer chips to rise by "low single-digit percentages." JPMorgan said Taiwan Semiconductor could raise its revenue outlook for 2024 and may even increase capital expenditure to the high end of guidance range, forecasting AI-related growth until 2028.
Taiwan Semiconductor's market cap is approaching one trillion US dollars, with a cumulative increase of 73% this year.
The rise in Taiwan Semiconductor's stock price has brought its market cap closer to $1 trillion. Currently, there is increasing call for Taiwan Semiconductor on Wall Street. Calculated based on Taiwan Semiconductor's American depositary receipt (ADR) listed in the United States, the company surpassed Berkshire Hathaway, owned by Buffett, last week and became the world's eighth largest company by market cap. Since the beginning of this year, the price of Taiwan Semiconductor's ADR has cumulatively risen by 73%. As of Tuesday's close, its market cap reached $932 billion, not far from the threshold of $1 trillion. The leader in the wafer foundry industry has become a major beneficiary of the widespread application of artificial intelligence (AI). Its cutting-edge technology and reasonable valuation make it
Citigroup rates Sunny Optical as a "buy" and sets the target price at HKD 63.5.
Citigroup has released a research report stating that it has a "buy" rating on Sunny Optical Technology (02382) with a target price of HKD 63.5. The company's management expects that its share in high-end mobile phone products will further increase, partly due to its increasing share among international customers, which will support the company's better performance in gross profit and product average price this year. In addition, Sunny Optical will maintain its position in the field of automotive lens and increase its business in the automotive field by expanding its customer base to increase the market share of automotive module.
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