Bloomberg Daybreak: Asia Edition TSMC Earnings Preview, Stocks Set Fresh Record on AI
Oct 9, 2025
Debbie Wu, Team Leader for North Asia Technology at Bloomberg News, discusses TSMC's expected strong Q3 earnings driven by solid sales data and the impact of AI demand on semiconductor growth. She explores TSMC's compliance with export controls and its pivotal role in Taiwan's economy. Meanwhile, Charles Lieberman, Co-founder and CIO at Advisors Capital Management, shares insights on U.S. market valuations influenced by mega-cap stocks and delves into gold's rally as China's reserve strategy shifts amidst geopolitical concerns.
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Episode notes
TSMC Commentary Will Signal AI Demand
- Investors will focus on TSMC comments about AI demand and capex to gauge real chip market strength.
- Debbie Wu expects management commentary to clarify whether recent AI investments reflect sustained demand.
China Still Relies On Foreign Chip Tech
- China remains a few years behind in advanced chipmaking despite Huawei progress.
- Debbie Wu notes Huawei's AI chip still used unpackaged TSMC dies, showing reliance on foreign tech.
Monitor Compliance As A Risk Signal
- Expect TSMC to continue abiding by export controls and cut off intermediaries bypassing rules.
- Use company statements on compliance to assess geopolitical risk to chip supply chains.