Confidence in the chip sector is returning in the wake of TSMC’s strong performance; buying is also taking place on the Milan Stock Exchange
The sector is being driven by the July sales figures from the microchip giant, which stood at around 15 billion dollars (+36 per cent year-on-year and +7 per cent month-on-month)
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(Il Sole 24 Ore Radiocor) - The European chip sector is in fine fettle, driven by renewed investor confidence following weeks of turbulence. This turnaround is underpinned by the results published by the giant Taiwan Semiconductor Manufacturing (up in pre-market trading on Wall Street), which reported that July sales stood at around $15 billion, up by around 36 per cent year-on-year and 7 per cent month-on-month. Revenue since the start of the year is up by around 37 per cent year-on-year, compared with the company’s guidance of growth in excess of 40 per cent. These figures have given a boost to Asian stock markets. As analysts at Banca Akros point out, ‘the year-to-date figures show growth slightly below the company’s guidance, suggesting an acceleration in the second half of 2026’.
This renewed confidence in the sector is also reflected in Sunday’s announcement by Moore Threads, a Chinese manufacturer of graphics processing units (GPUs) and artificial intelligence accelerators, that it intends to proceed with a second listing: following its listing on the Shanghai Star Market (where the share price has risen by 420 per cent since its debut at the end of last year), it is now setting its sights on the Hong Kong Stock Exchange. The board of directors, the company explained, has approved a plan to issue H-shares and list them on the main board in Hong Kong.
The move aims to expand the company’s ‘ strategic international presence and further strengthen corporate governance and competitiveness’. In the first half of the year, Moore Threads recorded revenue of 1.7 billion yuan, approximately 252 million dollars, whilst its net loss fell sharply to 11.6 million yuan from 271 million yuan in the same period of the previous year. The company has stated that it is still in discussions with stakeholders regarding the listing plans and that the details are yet to be finalised.
Against this backdrop, on the Milan Stock Exchange (FTSE MIB) stands out Stmicroelectronics, whilst Prysmian is also performing well. Meanwhile, looking at the European picture, there have been purchases of ASML in Amsterdam (AEX ), as well as Be Semiconductor and ASM International. Also up is Infineon Technologies in Frankfurt (DAX 40) and Aixtron.
