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The stablecoin sector has witnessed a significant expansion since the beginning of July, coinciding with the overall upswing in the cryptocurrency market.
What Happened: In an X post on Wednesday,&nbsp;Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, noted that stablecoins have been flowing into the market since early July, reaching an all-time high last week. He highlighted that Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), the world&#8217;s largest stablecoin by market cap, accounted for 70% of the total share. 
Previous instances of USDT market growth were followed by notable rallies in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). Though not significant yet, the analyst acknowledged that the upward trend in stablecoins is noteworthy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stablecoins started flowing into the market. Their market cap has risen since early July, hitting an all-time high last week. <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> makes up 70% of the total market cap. It may not be much yet, but the upward trend is noteworthy. <a href="https://t.co/wLHvkyUfrE">pic.twitter.com/wLHvkyUfrE</a>
&mdash; Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1813664989040763252?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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</figure>
In a note <a href="https://decrypt.co/240299/bitcoin-gains-held-back-stablecoin-liquidity-cryptoquant">shared </a>with Decrypt, CryptoQuant noted that stablecoin liquidity needs to expand further, especially from USDT, to justify a continued increase in Bitcoin&#8217;s price.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39771680/dogecoin-up-8-but-one-indicator-shows-it-could-explode-75-higher-still?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Up 8% But One Indicator Shows It Could Explode 75% Higher Still</a>
Why It Matters: As is well known, stablecoins allow traders to preserve their fiat value without cashing out. Due to this, they are the preferred way for traders, especially on non-fiat cryptocurrency exchanges, to enter and exit trades. 
Spikes in stablecoin market cap could therefore be interpreted as bullish signals, as investors are likely using them to buy other cryptocurrencies, including Bitcoin. 
As of this writing, more than $165 billion worth of stablecoins are in circulation, with most major ones pegged to $1. 
Price Action: At the time of publication, Bitcoin was trading at $64,783.01, following a 0.57% dip in the last 24 hours, according to data&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.&nbsp;The market has rallied sharply since pro-cryptocurrency presidential candidate Donald Trump escaped an attempt on his life. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39830824/ethereum-co-founder-charles-hoskinson-differs-with-old-rival-vitalik-buterin-on-mixing-cry">Ethereum Co-founder Charles Hoskinson Differs With Old Rival Vitalik Buterin On Mixing Crypto And Politics: &#8216;A Vote For Biden Is A Vote For The Death Of The American Crypto Industry&#8217;</a></li>
</ul>
Image via Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

$BTC

$USDT

As Stablecoin Inflows Surge To All-Time Highs, Here's What It Could Mean For Bitcoin And Crypto Market

B of A Securities analyst Mihir Bhatia maintains Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) with a Neutral and raises the price target from $51 to $56.

Price Target

Analyst Ratings

B of A Securities Maintains Neutral on Synchrony Finl, Raises Price Target to $56

Figma Inc., a San Francisco-based design startup, has secured a $12.5 billion valuation in a deal that involved investment from a group of prominent firms.
What Happened: The investment group includes Coatue Management, Alkeon Capital Management, and General Catalyst Partners, <a href="https://www.bloomberg.com/news/articles/2024-07-17/coatue-general-catalyst-back-figma-at-12-5-billion-valuation">reported</a> Bloomberg on Thursday citing people with knowledge of the matter.
This investment has come through a secondary share sale, which has been finalized. The deal also involved current and former employees, as well as other equity holders.
Figma, which is currently generating over $700 million in annual recurring revenue, is expected to exceed $1 billion by next year. The annual recurring revenue was approximately $400 million in late 2022.
Figma did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Other investors in this deal include Sequoia Capital, Andreessen Horowitz, Iconiq, SurgoCap Partners, Atlassian Corp., Fidelity Management &amp; Research Co., Franklin Templeton&#8217;s Franklin Venture Partners, Thrive Capital, Greenoaks Capital Partners, Durable Capital Partners, Apple Inc. executive Eddy Cue, Goanna Capital, and XN, according to the Figma spokesperson.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39781712/bitcoin-ethereum-dogecoin-continue-their-green-streak-but-big-test-could-come-on-a-60k-ret?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Continue Their Green Streak, But &#8216;Big Test&#8217; Could Come On A $60K Retest</a>
Why It Matters: This latest investment round comes after Figma <a href="https://www.benzinga.com/news/24/05/38893439/figma-sets-12-5b-valuation-in-new-equity-offering-falling-short-of-adobes-acquisition-offer">set a $12.5 billion valuation</a> in a new equity offering in May, which was notably lower than the $20 billion acquisition offer from Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>).
The European Union raised antitrust concerns regarding the proposed acquisition, suggesting that it could significantly reduce competition in the global market for interactive product design tools. The <a href="https://www.benzinga.com/news/23/11/35870815/adobes-20b-figma-acquisition-under-scrutiny-eu-raises-antitrust-concerns">EU&#8217;s investigation</a> underscored worries about Figma&#8217;s potential dominance over Adobe&#8217;s Illustrator and Photoshop tools.
Adobe and Figma parted ways <a href="https://www.benzinga.com/startups/24/03/37481467/adobe-failed-to-acquire-figma-now-figma-is-a-bigger-threat-than-ever-after-a-1-billion-payday-and-ne">after failing to secure approvals</a> from the European Commission and the UK Competition and Markets Authority.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Startups

Tech

General

ADBE

Figma Bags New Investment At $12.5B Valuation, Nearly 40% Lower Than The Terminated $20B Adobe Deal

B of A Securities analyst Kendall Toscano maintains Sysco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) with a Buy and lowers the price target from $91 to $87.

B of A Securities Maintains Buy on Sysco, Lowers Price Target to $87

Baird analyst Joel Beatty upgrades e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) from Neutral to Outperform and raises the price target from $210 to $230.

Upgrades

Baird Upgrades e.l.f. Beauty to Outperform, Raises Price Target to $230

This sales agreement, which follows the Memorandum of Understanding between Saudia Group and Lilium signed in October 2022, marks the largest of its kind in the MENA region and represents an important industry milestone as the largest reported firm order of eVTOL aircraft by an airline that plans to operate the aircraft.&nbsp;
Saudia Group expects to receive the first jets in 2026, for which operations will be managed and run by Saudia Private, a subsidiary of Saudia Group.

Contracts

LILM

Saudia Group and Lilium Sign Binding Sales Agreement For 50 Jets, With Options For Purchase Of 50 More

Biotech

Health Care

Stock Split

TCRT

Tuesday, Alaunos Therapeutics Announced A Reversed Stock Split Of 1-for-10, Effective July 18-8K

Foundation series <a href="https://www.benzinga.com/news/24/07/39808526/cybertruck-curiosity-grips-tesla-shareholders-as-elon-musk-led-ev-giant-starts-taking-questions-for">Cyberbeast owners</a> will &#8220;soon&#8221; receive an overhead light bar that could be retrofitted, Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Siddhant Awasthi said on Wednesday.
What Happened: Foundation series Cyberbeast customers will receive the overhead light bar first, Awasthi confirmed to a Tesla enthusiast on Wednesday on social media platform X. Awasthi is the Cybertruck Vehicle Program Manager at Tesla.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Soon for Foundation series Cyberbeast customers. They will receive it first
&mdash; Siddhant Awasthi (@siddawa) <a href="https://twitter.com/siddawa/status/1813670109350944828?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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The lightbar will light up the top end of the vehicle&#8217;s windshield, reemphasizing its angular design. It is designed for off-road use and ought to be retrofitted. 
The company already has several accessories, including products on its online shop, dedicated to the Cybertruck. Earlier this week, Tesla launched a $300 tailgate shield and $100 jumpseats <a href="https://www.benzinga.com/news/24/07/39813540/tesla-introduces-new-accessories-for-cybertruck-300-tailgate-shield-and-100-jumpseats">on its shop for the Cybertruck. </a>
Why It Matters: Two variants of the Cybertruck are currently available, namely the all-wheel drive version starting at $79,990 and the higher-end Cyberbeast version starting at an estimated $99,990. A cheaper rear-wheel drive will be available starting in 2025 priced at an estimated $60,990 and with a lower range of about 250 miles. 
The Foundation series, meanwhile, refers to the first few Cybertrucks manufactured by the company.&nbsp;It is unclear as to how many Foundation series units Tesla intends to manufacture. However, in late June, Tesla <a href="https://www.benzinga.com/news/24/07/39590408/tesla-to-deliver-foundation-series-cybertrucks-through-late-2024-due-to-continued-high-demand-contra">sent a mail to</a> Cybertruck reservation holders that the company intends to deliver only the Foundation series Cybertrucks through late 2024, owing to &#8220;continued high demand.&#8221;
Tesla started delivering the Cybertruck in late November. During Tesla's annual shareholder meeting in early June, Musk said that the company has touched a weekly production record of&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36039263/did-tesla-overpromise-and-underdeliver-with-the-cybertruck" target="_blank" rel="noreferrer noopener">1,300 Cybertrucks</a>. The company is now ramping production further to touch 2,500 units per week by the end of the year with the aim to deliver 250,000 Cybertrucks a year starting in 2025.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/07/39830816/elon-musks-spacex-announces-starlink-now-connects-400k-canadians-or-3-homes-in-the-country">Elon Musk&#8217;s SpaceX Announces Starlink Now Connects 400K Canadians Or 3% Homes In The Country</a></li>
</ul>
Photo courtesy: Tesla

TSLA

Tesla Executive Assures Cybertruck Light Bar Coming 'Soon' For Foundation Series Cyberbeast Customers

China has decided to suspend talks with the U.S. on arms control and nuclear proliferation. The decision comes in response to the U.S.&#8217; <a href="https://www.benzinga.com/news/24/05/38809049/us-and-taiwan-engage-in-covert-joint-naval-exercises-amid-rising-threats-from-xi-jinpings-army-repor">continued arms sales</a> to Taiwan, a move that China strongly opposes.
What Happened: China&#8217;s foreign ministry announced on Wednesday that it would be suspending talks with the U.S. on arms control and nuclear proliferation. This decision was made in protest against the U.S.&#8217; ongoing arms sales to Taiwan, an island that China considers its territory, <a href="https://www.theguardian.com/us-news/article/2024/jul/17/china-suspends-arms-talks-over-us-weapons-sales-to-taiwan">reported</a> The Guardian.
The U.S., a key ally and arms supplier to Taiwan, recently approved a $500 million military financing package for Taiwan, along with $2 billion in loans and loan guarantees. Additionally, $300 million in spare and repair parts for Taiwan&#8217;s F-16 fighter jets were also approved.
China&#8217;s foreign ministry spokesperson, Lin Jian, stated that despite &#8220;strong Chinese opposition and repeated negotiations,&#8221; the U.S. continued to sell arms to Taiwan. As a result, China has decided to put a hold on discussions with the U.S. on a new round of consultations on arms control and nonproliferation.
The U.S. State Department spokesperson, Matthew Miller, criticized China&#8217;s decision, stating that it &#8220;undermines strategic stability,&#8221; and increases the risk of &#8220;arms-race dynamics.&#8221; However, he also emphasized that the U.S. remains open to developing and implementing concrete risk-reduction measures with China.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39805672/will-tesla-robotaxis-be-allowed-in-china-analyst-says-highly-unlikely-investors-sho?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will Tesla Robotaxis Be Allowed in China? Analyst Says &#8216;Highly Unlikely,&#8217; Investors Should Consider Unavoidable National Security Risks</a>
Why It Matters: The suspension of nuclear talks follows a series of escalating tensions between the U.S. and China over Taiwan. In June, China reportedly imposed <a href="https://www.benzinga.com/markets/equities/24/06/39436742/china-sanctions-lockheed-martin-subsidiaries-executives-over-taiwan-arms-sales-report">sanctions on subsidiaries and senior executives</a> of Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) in response to U.S. arms sales to Taiwan. 
Earlier in March, the U.S. and China reportedly engaged in their <a href="https://www.benzinga.com/news/24/06/39429701/us-and-china-confront-taiwan-issue-in-first-informal-nuclear-talks-in-5-years-report">first informal nuclear talks</a> in five years, where the Taiwan issue was prominently discussed. Chinese representatives assured their U.S. counterparts that they would not resort to nuclear threats over Taiwan, emphasizing their confidence in prevailing in a conventional conflict.
Additionally, in April, Chinese President Xi Jinping accused the U.S. of attempting to provoke <a href="https://www.benzinga.com/news/24/06/39381310/xi-jinping-says-us-trying-to-trick-china-into-invading-taiwan-they-are-having-a-pipe-dream-and-would">China into invading Taiwan</a>. Xi made these allegations during a meeting with European Commission president Ursula von der Leyen, stating that the U.S. was trying to trick China into a military confrontation with Taiwan.
Recently, comments by U.S. presidential candidate Donald Trump <a href="https://www.benzinga.com/news/24/07/39807774/trump-says-taiwan-should-pay-us-for-defense-ex-presidents-remark-triggers-fall-in-tsmc-shares">suggested that Taiwan should pay</a> the U.S. for its defense, causing a significant drop in shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and other tech giants in Silicon Valley.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39823332/nasdaq-100-suffers-worst-day-in-11-months-as-chipmakers-tumble-on-china-curbs-magnificent-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq 100 Suffers Worst Day In 11 Months As Chipmakers Tumble On China Curbs; Magnificent 7 Wipe Out $500B</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

China Halts Nuclear Talks With US Over Taiwan Arms Sales After Reportedly Sanctioning Lockheed Martin Executives In June

Cathie Wood, the CEO of ARK Invest, raised concerns about a potential deflationary cycle, citing a significant drop in commodity prices.
What Happened: Wood, in her letter to investors on Wednesday, pointed out the surprising downtrend in commodity prices since 2008. She highlighted that the Bloomberg Commodity Price Index is currently at the same level as in 1984, indicating a potential deflationary &#8220;Kondratieff wave.&#8221;
Kondratiev waves are long economic cycles, lasting 40-60 years, marked by alternating periods of high and slow growth, linked to the technology life cycle.
Wood also discussed the yield curve, which has been flattening for over a decade and inverted for more than two years. This, she suggested, further supports the notion of a deflationary Kondratieff wave.
&#8220;Characterized by decades-long waves of inflation and deflation, the concept of a wave continuing today might be associated not only with technologically enabled innovation but also with China exporting deflation to resuscitate its economy,&#8221; Wood wrote. 
By &#8220;exporting deflation,&#8221; Wood refers to China selling products to the U.S. at lower prices, made possible through government subsidies.
See Also: <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Eyes Jamie Dimon For Treasury Secretary, Rules Out Ousting Fed Chair Jerome Powell</a>
The CEO noted that the <a href="https://www.benzinga.com/markets/equities/24/07/39646053/mixed-picture-for-fed-june-payrolls-rise-more-than-expected-unemployment-rate-ticks-up-wage-grow">unemployment rate</a> has risen from 3.4% to 4% since January 2023, and several sectors of the economy, including housing, autos, and commercial real estate, have already entered a recession. She also highlighted the decline in the Index of Leading Economic Indicators, which has not been seen since the Global Financial Crisis.
Wood believes that the economy is gradually slipping into a recession and that the yield curve will only normalize with significant easing by the Federal Reserve.
&#8220;In our view, the economy is continuing its slow recession roll, and not until the Fed eases significantly will the yield curve normalize,&#8221; Wood wrote. 
Why It Matters: Wood&#8217;s warning of a potential deflationary cycle aligns with her previous predictions. In January, she <a href="https://www.benzinga.com/news/24/01/36764700/cathie-wood-predicts-fed-will-stop-rolling-recession-with-interest-rate-cuts-more-deflationary-force">forecasted a deflationary environment</a> for 2024, despite record highs in the S&amp;P 500 and technology stocks.
Wood&#8217;s recent letter also coincides with her <a href="https://www.benzinga.com/markets/equities/24/07/39830547/why-cathie-wood-is-betting-on-small-cap-stocks-triumphing-over-magnificent-six-amid-restrictive-">forecast of a potential shift</a> in the equity market, and strategic change in her company&#8217;s flagship fund ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), favoring small-cap stocks over large-cap tech companies due to the Federal Reserve&#8217;s current &#8220;restrictive&#8221; monetary policy.
Wood&#8217;s concerns are echoed by former Dallas Fed President Robert Kaplan, who <a href="https://www.benzinga.com/news/24/07/39830062/september-may-bring-rate-cut-says-former-dallas-fed-president-robert-kaplan-i-think-theres-a-good-ch">predicts a potential rate cut</a> in September, and New York Fed President John Williams, who <a href="https://www.benzinga.com/news/24/07/39812270/jerome-powells-top-advisor-hints-at-feds-potential-rate-cut-plans-all-moving-in-the-right-direction">hints at a potential rate cut</a> in the coming months if the recent slowdown in inflation persists.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39779256/powell-praises-latest-inflation-progress-hints-at-imminent-rate-cuts-warns-hes-ve?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Powell Praises Latest Inflation Progress, Hints At Imminent Rate Cuts, Warns He&#8217;s &#8216;Very Worried&#8217; About Unsustainable National Debt</a></li>
</ul>
Cathie Wood Photo courtesy Benzinga YouTube and Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

ARKK

Deflation On The Horizon? Cathie Wood Points At Falling Commodity Prices To Hint At Slowing Economy

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>) reported strong revenue and earnings growth for the second quarter, which came in above estimates, buoyed by <a href="https://www.benzinga.com/news/24/07/39824702/ai-infrastructure-ceo-says-customers-are-showing-relentless-demand-for-nvidia-chips-and-nvidia-chips">robust demand for AI chip</a>s used in hyper-performance computing. The company also issued upbeat guidance for the third quarter.
TSMC&#8217;s Key Q2 Numbers: Hsinchu, Taiwan-based TSMC reported consolidated second-quarter revenue of NT$673.51 billion ($20.82 billion), up 40.1% year-over-year. Sequentially, the top line expanded by 13.6%. In dollar terms, the revenue growth was 32.8% year-over-year and 10.3% quarter-over-quarter.
Revenue topped the NT$657.58 billion LSEG consensus estimates, <a href="https://www.cnbc.com/2024/07/18/tsmc-q2-2024-earnings.html">according</a> to CNBC. 
The sequential revenue growth was aided by strong demand for 3-nanometer and 5-nm technologies, partly offset by continued smartphone seasonality, the company said.
High-performance computing and smartphone end markets accounted for 52% and 33% of net revenue, respectively. IoT, automotive, digital consumer electronics and others made up of 5%, 2% and 2%, respectively. HPC revenue climbed 28% sequentially, while smartphone revenue declined 1%.
North American-based customers contributed 65% of the total revenue, China 16%, Asia-Pacific 9%, Japan 6% and EMEA 4%.
Net income and earnings per share climbed a more modest 36.3% each to NT$247.85 billion and NT$9.56 per share ($1.48 per ADR unit), respectively. On a quarter-over-quarter basis, net income rose 9.9%. Analysts, on average, expected a net profit of NT $238.8 billion.
Margin Profile: The company said in a statement that its gross margin, operating and net profit margin were at 53.2%, 42.5% and 36.8%, respectively. Here&#8217;s how margins compare to the prior-year period.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q2&#8217;24</td>
<td>Q1&#8217;24</td>
<td>Q2&#8217;23</td>
</tr>
<tr>
<td>Gross Margin</td>
<td>53.2%</td>
<td>53.1%</td>
<td>54.1%</td>
</tr>
<tr>
<td>Operating Margin</td>
<td>42.5%</td>
<td>42.0%</td>
<td>42.0%</td>
</tr>
<tr>
<td>Net Profit Margin</td>
<td>36.8%</td>
<td>38.0%</td>
<td>37.8%</td>
</tr>
</tbody>
</table>
</figure>
Source: Company release
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Shipments of the most advanced 3-nanometer processor node tech accounted for 15% of the total wafer revenue, while 5-nm and 7-nm processors made up 35% and 17% of the revenue, respectively. These advanced and more advanced technologies together made up 67% of the total wafer revenue.
Look Ahead: Chairman and CEO C.C. Wei said on the earnings call that &#8220;I also try to reach the supply and demand balance, but I cannot. Today, the demand is so high I had to work very hard to meet customer demand,&#8221; CNBC said.
 &#8220;I hope sometime in 2025 or 2026, I can reach the balance.&#8221;
The top brass expects business to be supported by strong smartphone and AI-related demand in the third quarter, adding that they continue to expect 2024 to be &#8220;a strong growth year for TSMC.&#8221;
The company guided third-quarter revenue of $22.4 billion to $23.3 billion, up from the $17.3 billion reported a year ago.
TSMC recently hit the $1-trillion market-cap mark amid an AI-fueled rally, but the stock has comes off its recent peak. Wednesday, the <a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket">NYSE-listed ADR of the company ended down 7.98% at $171.20, </a>according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data, </a>weighed down by comments from Republican presidential nominee Donald Trump regarding his stance on Taiwan, and the Biden administration&#8217;s warning of further China chip curbs, which clouded the outlook for the sector.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/07/39830045/nvidia-tsmc-asml-holding-netflix-tesla-why-these-5-stocks-are-on-investors-radars-today"> </a>
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39830045/nvidia-tsmc-asml-holding-netflix-tesla-why-these-5-stocks-are-on-investors-radars-today">Nvidia, TSMC, ASML Holding, Netflix, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a></li>
</ul>
Photo by Ivan Marc via Shutterstock

Asia

Earnings

Equities

Sector ETFs

Exclusives

TSMC

Apple, Nvidia Supplier TSMC Reports Strong Q2 Results Amid Booming Demand For AI Chips, Guides Q3 Above Consensus: 2024 To Be 'Strong Growth Year,' Says CEO

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ftelxius.com%2Fen%2Finicio-en%2F&amp;esheet=54095739&amp;newsitemid=20240718748438&amp;lan=en-US&amp;anchor=Telxius&amp;index=1&amp;md5=c4d6a119155b0faa1295bcf9d2f4e5e6">Telxius</a>, a leading global connectivity provider, is scaling its core and edge network infrastructure to 400G with a Converged Optical Routing Architecture (CORA) provided by&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.juniper.net%2F&amp;esheet=54095739&amp;newsitemid=20240718748438&amp;lan=en-US&amp;anchor=Juniper+Networks&amp;index=2&amp;md5=6ae5eacc14981357c124fd74b8c5a3d6">Juniper Networks</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>), a leader in secure AI-Native Networks. This will enable a simplified network capacity expansion and efficient delivery of enhanced connectivity to metro networks and data center interconnects (DCI). It provides connectivity across distances of around 100 km to points of presence (PoPs) across Telxius&#39; global footprint in Spain, the Americas, and wider Europe.
Telxius connects millions of customers globally, providing a wide range of capacity, colocation and security services, as well as direct internet connectivity through its Tier-1 IP network. Its extensive ecosystem combines fiber optic submarine cables and terrestrial backhauls together spanning 100,000+ km, almost 100 PoPs in 17 countries, plus 27 data centers. Telxius seamlessly connects customers with ultra-high capacity, low latency and resilient networking.
Telxius will migrate some of its key architecture to Juniper&#39;s&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.juniper.net%2Fgb%2Fen%2Fsolutions%2Fconverged-optical-routing-architecture-cora.html&amp;esheet=54095739&amp;newsitemid=20240718748438&amp;lan=en-US&amp;anchor=CORA&amp;index=3&amp;md5=43d394c015391f3105d097dc161f5d50">CORA</a>&nbsp;and&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.juniper.net%2Fus%2Fen%2Fproducts%2Frouters%2Fptx-series.html&amp;esheet=54095739&amp;newsitemid=20240718748438&amp;lan=en-US&amp;anchor=PTX+Series+Packet+Transport+Routers&amp;index=4&amp;md5=085c727b94bfddf6ed3e7b59207d2291">PTX Series Packet Transport Routers</a>&nbsp;to deliver a network that offers robust power and space savings superior performance and automated operations. This will free up a substantial amount of reserved bandwidth and allow for flexible extension to 400G capacity. The project will create enhanced connectivity for Telxius&#39; customers and create a more sustainable architecture by optimizing network scalability and bandwidth efficiency.
The solution leverages leading edge technology with the use of an IP over Dense Wavelength Division Multiplexing (IPoDWDM) solution. This maximizes routing platform capacity, scales up link bandwidth, and can reach more network locations and customers whilst removing the need to manage and maintain external DWDM equipment.
Using Juniper&#39;s CORA, Telxius will simplify the network architecture by consolidating previously siloed IP and optical network layers into a unified system leveraging IPoDWDM. Once the project is complete, Telxius expects to increase network reliability for its customers, simplify network operations and substantially reduce power consumption.

JNPR

Telxius Partners with Juniper to Upgrade Network Infrastructure to 400G

GE HealthCare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>) today announced it has entered into an agreement to acquire&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.intelligentultrasound.com%2F&amp;esheet=54095905&amp;newsitemid=20240717580041&amp;lan=en-US&amp;anchor=Intelligent+Ultrasound+Group+PLC%26%238217%3Bs&amp;index=1&amp;md5=94f2638a6e2012af338fc33fc1dca1b6">Intelligent Ultrasound Group PLC&#39;s</a>&nbsp;(Intelligent Ultrasound) clinical artificial intelligence (AI) software business for total consideration of approximately&nbsp;$51 million. Intelligent Ultrasound is a leader in integrated AI-driven image analysis tools designed to make ultrasound smarter and more efficient. GE HealthCare plans to incorporate these solutions across the ultrasound portfolio, strengthening its capabilities with technology that helps improve workflows and enhance ease-of-use for the benefit of clinicians and patients.

GEHC

GE HealthCare To Acquire  Intelligent Ultrasound Group's Clinical Artificial Intelligence Business For $51M

Elon Musk&#8216;s SpaceX on Wednesday revealed a conceptual illustration of the spacecraft it is <a href="https://www.benzinga.com/news/24/06/39516687/elon-musks-spacex-wins-843m-contract-for-historic-nasa-mission">designing to deorbit the International Space Station</a> (ISS) and it resembles the company&#8217;s Dragon spacecraft.
What Happened: SpaceX posted the picture on X, while explaining that the spacecraft will have six times more propellant and four times the power of its Dragon spacecraft.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With 6x more propellant and 4x the power of today's Dragon spacecraft, SpaceX was selected to design and develop the U.S. Deorbit Vehicle for a precise, controlled deorbit of the <a href="https://twitter.com/Space_Station?ref_src=twsrc%5Etfw">@Space_Station</a> <a href="https://t.co/GgtuplTwqQ">https://t.co/GgtuplTwqQ</a> <a href="https://t.co/E23sS7CE4U">pic.twitter.com/E23sS7CE4U</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1813632705281818671?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
NASA <a href="https://www.benzinga.com/news/24/07/39574766/spacex-overtakes-ula-in-military-space-missions-as-vulcan-centaur-rocket-experiences-delays">chose SpaceX</a> to develop and deliver the U.S. Deorbit vehicle (USDV) to deorbit the space station and ensure a lack of risk to populated areas in late June. SpaceX will develop the deorbit spacecraft under the contract valued at $843 million and NASA will take ownership afterward and operate it through the mission. 
The space agency said in a statement on Wednesday that the deorbit spacecraft would move the station out of orbit and into a remote area of an ocean at the end of its operations around 2030.
Both the spacecraft and the station are expected to break up through the process of re-entry into Earth&#8217;s atmosphere. Any remnants will subsequently fall harmlessly into the ocean. 
Why It Matters: Which launch vehicle will launch the deorbiting spacecraft into space has not been ascertained to date. 
However, the deorbiting vehicle will be launched about one and a half years before the final re-entry burn, ISS program manager Dana Weigel said in a media teleconference on Wednesday. The crew will stay on <a href="https://www.benzinga.com/news/24/02/36885276/starlab-to-launch-in-single-flight-before-iss-shutdown-thanks-to-spacexs-starship">board the station</a> until 6 months before the final re-entry, they added.
Once the ISS reaches an altitude of about 140 miles, the USDV will &#8220;perform a series of burns to set us up for that final deorbit, and then four days later it will do the final re-entry burn,&#8221; Weigel said.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39811684/tesla-files-trademark-applications-for-cyberberry-and-supercharged-gummies-years-after-ceo-elon-musk" target="_blank" rel="noreferrer noopener">Tesla Files Trademark Applications For Cyberberry And Supercharged Gummies, Years After CEO Elon Musk Teased Making His Own Candy Company</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

SpaceX Unveils ISS Deorbit Vehicle Design Resembling Dragon Spacecraft With '6X More Propellant And 4X Power'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, with the index moving to the &#8220;Neutral&#8221; zone on Wednesday.
U.S. stocks closed mixed on Wednesday, with the Nasdaq Composite recording its worst session since Dec. 2022.
On the economic data front, industrial production in the U.S. climbed 0.6% from a month ago in June compared to market estimates of a 0.3% gain. U.S. housing starts increased by 3% from the prior month to an annualized rate of 1,314,000 in June, while building permits climbed by 3.4% to an annual rate of 1.446 million in June.
Semiconductor stocks moved lower on Wednesday amid reports Biden is considering further China restrictions and Trump asking Taiwan to pay the U.S. for defense. Following the ex-president&#8217;s comments Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket">ended the day nearly 8% lower. </a>
Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported better-than-expected second-quarter results on Wednesday. Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) shares dipped 25% on Wednesday after the company announced a CEO transition and said comparable sales decreased in the 10-week period ended July 13.
Most sectors on the S&amp;P 500 closed on a positive note, with energy, consumer staples and financials stocks recording the biggest gains on Wednesday. However, communication services and information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 244 points to 41,198.08 on Wednesday. The S&amp;P 500 fell 1.39% at 5,588.27, while the Nasdaq Composite dipped 2.77% at 17,996.92 during Wednesday's session.
Investors are awaiting earnings results from D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) and Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 53.9, the index moved to the &#8220;Neutral&#8221; zone on Wednesday, versus a prior reading of 61.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39815137/top-3-industrials-stocks-that-could-sink-your-portfolio-this-month">Top 3 Industrials Stocks That Could Sink Your Portfolio This Month</a></li>
</ul>
Image Via Shutterstock

Pre-Market Outlook

Trading Ideas

FIVE

NFLX

Nasdaq Sees Worst Session Since 2022 As Chip Stocks Tumble After Trump's Taiwan Remarks and Biden's Potential Restrictions

Tech stocks sold off on Wednesday, weighed down by comments from Republican presidential nominee Donald Trump and lukewarm forward guidance issued by European chip-equipment maker ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). Tech venture capitalist and Deepwater Asset Management Managing Partner Gene Munster weighed in on the implications of the geopolitical rhetoric from either side of the aisle for the sector in general and artificial intelligence technology in particular.
What Happened: The Nasdaq Composite Index ended Wednesday&#8217;s session down 2.5% and the Nasdaq 100, comprising 100 of the biggest non-financial tech stocks, fell a steeper 2.94%. The sharp plunge has been triggered by a vortex of geopolitical comments from Trump and President Joe Biden, said Munster in a post on X, formerly Twitter.
&#8220;Trump's comments are part threat and part reality,&#8221; Munster said. Trump threatened to withdraw support for Taiwan, he said, adding that the former president has a history of making threats that he does not follow through on. Munster pointed to the fact that Trump threatened in 2018 about the U.S. exiting NATO, which never materialized.
But in reality, Trump wants to continue supporting Taiwan and &#8220;earn a political win around getting a U.S. ally to &#8216;pay for defense,'&#8221; Munster said. He noted that since 2017 NATO Europe and Canada spending has increased by 28% versus the 20% that the U.S. has been doing.
Regarding Biden&#8217;s comments, Munster noted that the White House wanted to further restrict advanced technology used in building AI to enter China. While companies like ASML were mentioned, greater restrictions could have a negative impact on Nvidia, which could hamper the AI trade in the near term.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: The tech entrepreneur sees politics and regulation slowing down AI&#8217;s progress in the near term, i.e. over the next 1-3 years, by making it more expensive to access the underlying hardware. He, however, sees the technology weathering the headwind.
&#8220;This too will pass given the power of AI will eventually surpass the power of politics. In the end, the substance of AI will exceed the hype,&#8221; he added.
The rally seen in the market since the start of 2023 has been fueled by the hype around AI and its long-term potential. Most analysts, including Munster, believe th<a href="https://www.benzinga.com/markets/equities/24/05/38910879/stock-market-to-rally-for-3-5-years-before-ai-bubble-bursts-predicts-veteran-analyst-gene-munste">e AI bubble will last at least for 3-5 years.</a>
The Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) ended Wednesday&#8217;s session down 3.33% to $35.72, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39785281/nvidia-ceo-jensen-huang-and-metas-mark-zuckerberg-set-to-discuss-future-of-ai-and-simulation-at-">Nvidia CEO Jensen Huang And Meta&#8217;s Mark Zuckerberg Set To Discuss Future Of AI And Simulation At SIGGRAPH 2024</a></li>
</ul>
Image Via Shutterstock

Analyst Color

Government

Regulations

Politics

ASML

As Trump-Biden Tough Geopolitical Talk Razes Tech Stocks, Munster Warns Of AI Progress Slowing In Near Term But Says It 'Will Eventually Surpass The Power Of Politics'

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) to report quarterly earnings at $3.77 per share on revenue of $9.77 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. D.R. Horton shares gained 0.3% to $158.00 in after-hours trading.</li>
<li>Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) posted upbeat results for its second quarter on Thursday. The company reported quarterly adjusted earnings of $1.97 per share, topping market estimates of $1.89 per share. Its sales came in at $12.512 billion beating expectations of $12.375 billion. Novartis shares rose 0.04% to $111.85 in the after-hours trading session.</li>
<li>Analysts expect Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) to post quarterly earnings at $1.10 per share on revenue of $10.37 billion. The company will release earnings before the markets open. Abbott shares rose 0.1% to $104.83 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported better-than-expected second-quarter earnings. Taiwan Semiconductor Manufacturing shares gained 2.4% to $175.33 in the after-hours trading session.</li>
<li>Analysts expect Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) to post quarterly earnings at $4.74 per share on revenue of $9.53 billion after the closing bell. Netflix shares rose 0.4% to $649.85 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39815137/top-3-industrials-stocks-that-could-sink-your-portfolio-this-month">Top 3 Industrials Stocks That Could Sink Your Portfolio This Month</a></li>
</ul>
Photo courtesy: DR Horton

D.R. Horton, Netflix And 3 Stocks To Watch Heading Into Thursday

Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is scheduled to release its financial results for the second quarter, before the <a href="https://www.benzinga.com/quote/ABT/earnings">opening bell on Thursday, July 18.</a>
Analysts expect the North Chicago, Illinois-based company to report quarterly earnings at $1.10 per share, up from $1.08 per share in the year-ago period. Abbott expects to post revenue of $10.37 billion. It posted $9.7 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On June 14, Abbott declared a quarterly common dividend of 55 cents per share, which represented the 402nd straight quarterly dividend to be paid by the company since 1924.
Abbott shares gained 1.9% to close at $104.68 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/ABT/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Goldman Sachs analyst David Roman initiated coverage on the stock with a Buy rating and a price target of $121 on May 30. This analyst has an accuracy rate of 62%.</li>
<li>Citigroup analyst Joanna Wiensch maintained a Buy rating and cut the price target from $128 to $119 on May 22. This analyst has an accuracy rate of 61%.</li>
<li>Barclays analyst Matt Miksic maintained an Overweight rating and lowered the price target from $141 to $140 on April 22. This analyst has an accuracy rate of 67%.</li>
<li>Raymond James analyst Jayson Bedford maintained an Outperform rating and raised the price target from $124 to $127 on Jan. 25. This analyst has an accuracy rate of 67%.</li>
<li>Morgan Stanley analyst David Lewis maintained an Equal-Weight rating and slashed the price target from $112 to $107 on Oct. 19, 2023. This analyst has an accuracy rate of 73%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39815137/top-3-industrials-stocks-that-could-sink-your-portfolio-this-month">Top 3 Industrials Stocks That Could Sink Your Portfolio This Month</a></li>
</ul>

Abbott Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4214030-1&amp;h=1336308177&amp;u=https%3A%2F%2Fclarivate.com%2F&amp;a=Clarivate+Plc" target="_blank">Clarivate Plc</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>), a leading global provider of transformative intelligence, today announced a partnership with OhioLINK,&nbsp;Ohio&#39;s&nbsp;academic library consortium, and SearchOhio, a consortium of&nbsp;Ohio&nbsp;public libraries, to develop a new library resource sharing consortial experience.
<a href="https://mma.prnewswire.com/media/1159266/Clarivate_Logo.html" target="_blank"><img alt="(PRNewsfoto/Clarivate Analytics)" src="https://mma.prnewswire.com/media/1159266/Clarivate_Logo.jpg" /></a>
Through this partnership Clarivate will unify OhioLINK and SearchOhio&#39;s resource sharing platforms to enhance library user experiences and services, improve operational efficiencies and build upon existing consortia collaboration. The new solution is expected to be implemented by mid-year in 2025.
The new solution will integrate OhioLINK and SearchOhio&#39;s existing INN-Reach platforms, part of Innovative&trade;, into a single new consortial experience. It will deliver an intuitive and seamless user experience through a unified view of and access to library materials from 45 public library systems and 87 institutions across the state of&nbsp;Ohio. The streamlined user interface will make it easy for patrons to discover library resources and explore new content, improving learning outcomes.

CLVT

Clarivate and Ohio Libraries Partner to Enhance Resource Sharing by 2025

Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 32.5 NT dollars, management expects: &#x25FC; Grossprofitmargintobebetween53.5%and55.5% &#x25FC; Operatingprofitmargintobebetween42.5%and44.5%

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