00:00It's Benzinga bringing Wall Street to Main Street.
00:02Taiwan's semiconductor shares fell about 2% in pre-market trading on Thursday
00:05as investors pulled back from technology stocks following a strong 12-month rally
00:09of nearly 116%, according to Benzinga. Nasdaq futures dropped 1.03% and S&P 500 futures slipped
00:160.32%, pressuring semiconductor stocks. Chairman and CEO C.C. Wei said the company
00:22is not concerned about competition from Intel, Samsung, or Elon Musk's reported chip manufacturing
00:26plans. He noted it would take years for rivals to develop cutting-edge production capabilities.
00:30Wei also said the company does not plan to aggressively raise prices despite strong AI-driven
00:34demand. Analysts expect earnings of $3.69 per share and revenue of $39.76 billion when the
00:40company reports on July 16th. The consensus analyst rating is buy, with an average price
00:44target of $420. For all things money, visit Benzinga.com.
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