台积电据报2027年代工价格最高上调约10%，但台股核心映射已提前反应且新鲜度不足

# 美股盘后催化 4/12: 台积电据报2027年代工价格最高上调约10%，先进制程定价权推动ADR重定价

- 美股会话: 2026-07-21
- 方向: POSITIVE；类型: 供需/价格；规划重大性: 8/10
- 映射模式: adr_parity
- 美股驱动（规划器初判，需独立核验）: 事实：多条市场快讯和Bloomberg转录称投资者将台积电2027年可能涨价最高10%视为半导体行情线索，TSM ADR收涨5.55%，ASML、AMAT、LRCX、KLAC等设备链同步走强。推断：若属实，说明先进制程和AI芯片代工供需仍紧、台积电议价权增强；负面是部分GPU/ASIC/IC设计客户成本可能上升。

## 本催化相关美股真实收盘行情

- 英伟达 (NVDA.US): 207.29 +1.97%
- AMD (AMD.US): 544.43 +8.11%
- 博通 (AVGO.US): 386.5 +2.21%
- 台积电ADR (TSM.US): 424.61 +5.55%
- 阿斯麦ADR (ASML.US): 1801.51 +3.59%
- 应用材料 (AMAT.US): 564.55 +7.39%
- 泛林 (LRCX.US): 322.0 +4.97%
- KLA (KLAC.US): 217.56 +4.80%

## 亚太映射假设（仅候选，必须查证）

- 台积电 (2330.TW) [TW/同源本地股/positive]: ADR涨幅和涨价预期可直接映射台股本地股，尤其若涨价集中在AI先进制程和先进封装。；核验问题: 核实原始报道来源、涨价节点范围、客户接受度和长期合同约束。
- 创意电子 (3443.TW) [TW/供应商/positive]: 先进制程需求强可支持ASIC设计服务和后端设计需求。；核验问题: 核实其N3/N2及AI ASIC项目能见度。
- 联电 (2303.TW) [TW/竞争替代/mixed]: 晶圆代工情绪改善可能外溢，但成熟制程供需未必同步受益。；核验问题: 核实成熟制程价格趋势和联电客户需求。

## 必答问题

- 涨价是否仅限先进逻辑、先进封装，还是覆盖更广节点？
- 大客户长期协议是否限制2027年实际提价幅度？

## 原始证据全文（6 条）

### [E0016] 华尔街见闻快讯 | 2026-07-21 13:31 UTC | 盘中
美股盘初：纳指涨1%，费城半导体指数涨4.5%，存储芯片股、光通信股大涨
URL: https://wallstreetcn.com/livenews/3137613
道指涨0.5%，标普500指数涨0.6%。 存储芯片股大涨，闪迪涨约9%，SK海力士涨约7%，美光科技涨约8%，西部数据涨约9%，希捷科技涨约7%。 光通信股普涨，迈威尔科技涨约6%，Coherent涨约8%，Credo涨约5%，Lumentum涨约7%，康宁涨约6%。 台积电涨约4%，报道称台积电拟于2027年将芯片制造价格提高至多10%。

美股盘初：纳指涨1%，费城半导体指数涨4.5%，存储芯片股、光通信股大涨

### [E0023] 华尔街见闻快讯 | 2026-07-21 13:31 UTC | 盘中
美股盘初：纳指涨1%，费城半导体指数涨4.5%，存储芯片股、光通信股大涨
URL: https://wallstreetcn.com/livenews/3137615
道指涨0.5%，标普500指数涨0.6%。 存储芯片股大涨，闪迪涨约9%，SK海力士涨约7%，美光科技涨约8%，西部数据涨约9%，希捷科技涨约7%。 光通信股普涨，迈威尔科技涨约6%，Coherent涨约8%，Credo涨约5%，Lumentum涨约7%，康宁涨约6%。 台积电涨约4%，报道称台积电拟于2027年将芯片制造价格提高至多10%。

美股盘初：纳指涨1%，费城半导体指数涨4.5%，存储芯片股、光通信股大涨

### [E0968] CNBC Top News | 2026-07-21 16:51 UTC | 盘中
Stocks making the biggest moves midday: Coinbase, Micron, Nebius, Hasbro, Utz Brands & more
URL: https://www.cnbc.com/2026/07/21/stocks-making-the-biggest-moves-midday-coin-mu-nbis-has-utz.html
Here are some of the companies making headlines in midday trading. Genuine Parts — The provider of automotive replacement parts dropped almost 3% after management confirmed that the company isn't in talks with any competitor over a potential transaction. Earlier this month, Bloomberg News reported, citing people familiar, that O'Reilly Automotive was interested in acquiring Genuine Parts' auto parts business. O'Reilly was last up nearly 4%. Equifax – Shares of the credit bureau dropped 7%. Equifax issued third-quarter guidance that disappointed Wall Street, calling for adjusted earnings of $2.15 to $2.25 per share on revenue of $1.68 billion to $1.71 billion. The FactSet consensus anticipated $2.26 per share in earnings and $1.71 billion in revenue. Memory chips — Traders snapped up shares of memory chip companies ahead of key tech reports due this week that will shed light on the state of the artificial intelligence trade. The Roundhill Memory ETF (DRAM) jumped 11%, while Micron Technology , Western Digital and Seagate Technology each added about 12%. Coinbase Global , Robinhood — Stocks tied to cryptocurrency jumped as bitcoin touched its highest level since June 16. Crypto trading platform Coinbase advanced almost 12%, while trading app company Robinhood jumped 9%. TeraWulf , a bitcoin mining company, rose 8%. Hasbro — Shares were up 7% after the game and toy company reported an earnings and revenue beat in its second-quarter financial report. Hasbro also raised its adjusted EBITDA guidance for full-year 2026. Growth was led by Hasbro's "Magic: The Gathering" trading card game, with quarterly revenue topping $500 million for the first time in the product's more than 30 year history, the company said. MSCI — The markets index builder tumbled 9% after it reported weaker-than-expected results for the second quarter. MSCI earned an adjusted $4.94 per share on revenue of $867 million. Analysts polled by StreetAccount expected a profit of $4.99 per share on revenue of $870.7 million. Novartis — Shares rose 2% after the Swiss pharmaceutical company posted second-quarter core earnings and revenue that exceeded expectations, adding that it "remains on track" to deliver on its full-year guidance and midterm outlook. General Motors — The company earned an adjusted $3.57 per share on revenue of $48.03 billion. Analysts polled by LSEG expected a profit of $3.20 per share on revenue of $47.01 billion. Shares gained more than 5% on the back of the results. Danaher — The life sciences equipment manufacturer tumbled 13%. Danaher forecast third-quarter core revenue growth of 2%-3%, and lowered full-year non-GAAP core revenue guidance to 3%-4% from 3%-6% previously, StreetAccount said. Second-quarter earnings and revenue topped Wall Street estimates, according to FactSet data. Utz Brands — The potato chip and pretzel maker soared about 90% after agreeing to a buyout from Germany's Intersnack Group for $14.25 a share in cash. The deal is expected to close in the fourth quarter, subject to regulatory approval. Nebius Group — The AI cloud company rallied 15% after Nvidia disclosed a 9.3% stake in the Amsterdam-based company, which has turned into one of Europe's leading neoclouds providing AI compute. 3M — The stock jumped more than 8% after the American conglomerate behind Scotch tape and Post-it notes posted second-quarter adjusted earnings and revenue that beat expectations, and raised its full-year guidance. Taiwan Semiconductor Manufacturing — Shares popped almost 5% after Nikkei Asia, citing sources, reported the foundry will raise prices for chipmaking services by up to 10% next year. Crown Holdings — Shares of the supplier of beverage and industrial packaging climbed more than 5% after the company posted a beat on the top and bottom lines in its second quarter. Crown posted earnings of $2.49 per share, excluding items, on revenue of $3.67 billion. Analysts polled by FactSet were anticipating earnings of $2.16 per share on revenue of $3.37 billion. Steel Dynamics — The steel producer rose 3% after the company's latest earnings beat on the top and bottom lines. However, the company posted an additional non-cash impairment charge of $16 million. — With additional reporting by CNBC's Scott Schnipper, Fred Imbert, Davis Giangiulio and Nick Wells.

### [E1071] First Squawk | 2026-07-21 17:33 UTC | 盘中
SEMICONDUCTOR STOCKS ROAR BACK! THE PHILADELPHIA SEMICONDUCTOR INDEX JUMPS 5.5% AFTER REPORTS TSMC MAY RAISE CHIPMAKING PRICES BY UP TO 10% IN 2027.
URL: https://x.com/FirstSquawk/status/2079620913839100041
SEMICONDUCTOR STOCKS ROAR BACK! THE PHILADELPHIA SEMICONDUCTOR INDEX JUMPS 5.5% AFTER REPORTS TSMC MAY RAISE CHIPMAKING PRICES BY UP TO 10% IN 2027.

### [E1236] Bloomberg TV+ | 2026-07-21 19:00 UTC | 盘中
「Bloomberg TV+」直播转录 02:30–03:00
URL: http://39.105.42.197:20307/event/live
【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-22 02:30–03:00(Asia/Shanghai),共 129 段
说明:以下为该时段该直播间的连续语音转录(直播 ASR,可能有同音/识别误差)。请从中识别与 AI算力/芯片/服务器/光模块/液冷/数据中心/大模型/机器人·具身智能/自动驾驶 等相关的、**可交易**的公司/产品/订单/产能/需求/合作/高管或官员表态,判断是否构成可交易事件;若通篇无可交易内容,判为不做。识别误差请结合上下文与常识修正,勿据孤立音近词臆断。

--- 转录正文 ---
[02:30] OMajos pushing higher after oil surge right now exxon mobile up 1.7% Cheevron is gaining 11.
[02:30] The 1% conco Phillips up by 1.1% for on demand use 24 hours a day subscribe to Bloomberg news now wherever you get.
[02:30] Your podcast I'm cha out of Carolyn Tim that's a Bberg flash Thanks so much Charlie for that update.
[02:30] We just want to mention something that Bloomberg reported out back in May on how China is restricting overseas travel for top AI professionals and private firms such as AliI.
[02:30] Baba and deep seeks suggesting an escalation in measures intended to safeguard its technology and catch up to the U.
[02:30] In a pivotal sphere, we should point out that Beijing for years has imposed travel restrictions on key personnel from prominent collegeries.
[02:30] Rearchers to nuclear scientists and executives at state firms, at the same time, a few things catching our attention apart from that report.
[02:30] Nobel winning chemists leaving the US to direct an AI materials lab in China. And then Carol, an oped piece about how to stop China from leap.
[02:31] US when it comes to biotech that was in the Washington Post it actually caught the attention as well of our next guest Robert B B excuse me is with us.
[02:31] He's president and CEO of the nearly $11 billion market cap Clinic stage biopharma and biotech Company is cytokinetics he launched this company.
[02:31] Back in 1998 stock, by the way, up about 27% year to date, he's joins us in studio, welcome welcome thank you thanks.
[02:31] For having me, you know, if I can share before we got going when I said, you've been there at the company long and you reminded.
[02:31] That you launch the company, but you don't necessarily, you like to credit the research team that founded your company.
[02:31] Research is at the heart of so much in your industry, tell us about what concerns you right now.
[02:31] I use that the company is Science is in our So, we have four scientific founders, we refer to them as our four amigos.
[02:32] And they came out of academia because they had good ideas ingenuity leading to innovation.
[02:32] Jo several of us with business backgrounds in launching this company. And what concerns me in ours as a quintessential bio.
[02:32] Maceutical story is that in today's day, it's harder to build these types of companies that could ultimately deliver.
[02:32] Sustainable enterprise and medicines for the longer arc of benefit to patients.
[02:32] That's because I think and shouldn't be as a surprise to anyone, there's an evolution that has reached an urgent call to action.
[02:32] I do believe that companies like cytokinetics would be far more difficult to build today, in part because we don't have an.
[02:32] Industrial policy, a nationwide commitment to science, medicine and the pursuit of the kinds of.
[02:32] Things that cytokinetics does so well. When did we lose that vision, I'd say we've lost it over.😔
[02:33] A period of years, but it's more acute care now over the last two to three years because of the Trump administration's.
[02:33] I wouldn't say it's only because of that. I would say that there's a natural, competitive advantage that.
[02:33] Is beginning to be cedded to China for the fact that they've made a deliberate strategic commitment to a policy.
[02:33] Industrialization that we could do well to mimic and demonstrate again how we can win.
[02:33] You know, it's interesting, it comes at a time when you think about something like critical minerals or rare earths, we certainly, it seems increasingly having now.
[02:33] Po about that when it comes to semiconductors, you even have a government that's taking we all own pieces of an in.
[02:33] Some other names which, by the way, not everybody thinks these are good industrial policies No, it's a really good point and what's interesting is the U is often criticized.
[02:34] China specifically for its role in their businesses. What's at risk because you say this has been.
[02:34] Happening for a while, so maybe it's not political because it sounds like it's happened under different administrations.
[02:34] So what are we missing, what are we losing because I also feel like if you go back to COVID, we realized how exposed we were as a nation as well, not just supply chains but,
[02:34] PharmaceuticalsAolute, and you make a good point, it starts with commoditization of pharmaceutical ingredients.
[02:34] To supply chains then to clinical trials and ultimately to medicines for patients, cytokinetics is a great example of a company.
[02:34] Where patients are at the heart of everything we do, and we believe very much that science and medicine.
[02:34] And should know no borders, but at the same time, there are things we can do to outcompte and to continue to capital.
[02:34] liesOn where there's ingenuity, for instance, where do early career scientists feel like they're going to have the best opportunity.
[02:35] To make an impact, make a dent in the universe for medicine and patients in the United States. there's been more recently a beginning of.
[02:35] around science,We need to restore that trust in science for the benefit of scientists who want to contribute to humanity.
[02:35] benefit mankindTo be fair, I do feel like that is certainly something you can point to the current administration for.
[02:35] You know, I don't want to get into the politics of it all, but I will say it has, I believe, transcended politics.
[02:35] To the point where it's distrust for science funding for that, which is government.
[02:35] Academic science for the benefit of companies like ours that can industrialize that. What I find notable about what you're saying is that, I mean, your roots are still.
[02:35] That's where your companys based, that's where the DNA of your company is there's so much of Silicon Valley that gone to Washington with this administration.
[02:36] Conversations with the folks who used to be on your home turf who are now in Washington. they are the ones who.
[02:36] They understand academia, they understand research, they understand science, they understand investing and the way that startups play a role in this ecosystem.
[02:36] All the time. And you're right, it just hasn't yet extended to biotechnologies the way it should when nation.
[02:36] States decide that biotechnology is an industrial competitive advantage. They'll be, I think, lining up together.
[02:36] They' with us to be able to do what's right for all patients, regardless of geopolitics, and that's something that I think.
[02:36] Kinetics can be an exemplar, we used to talk about how we can punch above our weight class at cytokinetics, ours is a company built.
[02:36] The industrialization of science that started with federal funding of academic research, and then we parlayed that into research.
[02:36] Development and now commercialization, it's taken us 28 years to get to a place where we have a sustainable R&D engine.
[02:37] That can deliver medicine after medicine, we just launched our first commercial medicine earlier this year.
[02:37] A drug for the treatment of a disease called obstructive hypertrophic cardioopathy over the course of 28 years.
[02:37] We invested billions, literally3 to 4 billion in net operating deficit till now, but for the fact that this.
[02:37] Can harvest, return for patients, return to shareholders in a way that companies like GenNtech or Amgent.
[02:37] geneIt took those companies 20 to 30 years and look at where they are at 1..
[02:37] Kinetics can be an exemplar of that too Robert, unfortunately, and I hope we can continue this conversation in the future 30 seconds left here so what would you?
[02:37] like to see the administration do, or I don't know, what is it between public and public sector just quickly?
[02:38] Can join together we're all oriented towards the same objectives, mission and medical and to the extent that we.
[02:38] 🎼Can make this a national priority. We can compete on our own merits. We don't need protectionism, but we do need to know that everybody.
[02:38] 🎼a common goal, perhaps Robert B, thank you so much, president CEO of.
[02:38] E joining us right here when we come back and check on trading and stocks on the move, this is Bomberg Business Week Daily.
[02:39] Everybody has a moment where they put into action all they've practiced, where they step up to a challenge.
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[02:39] 🎼And I thought okay, I can rise up I can play this game and I did play the game. It was great and it was depressing and was.
[02:40] Appoint my chair at the time sat down with me and saidSession starts now I'm Fran Laqua, an award winning.
[02:40] 🎼the last 25 years I've interviewed world leaders, bank bosses, even fashion icons I'm often asking about the news of.
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[02:41] 🎼We are seeing modest gains across European equity markets Take a look at how we're faring when it comes to Asia markets.
[02:41] Bringing you the world's business and financial news whenever and where I read happens.
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[02:41] With Carol masser and tim stnik on bloomberg radio and television right everybody we're headed.
[02:41] The last hour of trading on this Tuesday, July 21st, Carol Masser, along with Tim Stannik here at Bloomberghead.
[02:41] in New York City just watching a trade off our highs of this session still up about9 tenth0 of a percent on the S&P 500 just up about.
[02:42] 65 points NasSdaq 100 a standout in today's trade up 1.9% of 556.
[02:42] Points to the upside quick check on the S&P Tim and we are kind of an even split 236 names to the upside.
[02:42] 266 to the downside talk about all the chips I did not would you like to talk about all the chips I want to talk a little bit about the chips Yeah socks up.
[02:42] .3% we seem to have a lot of these days where it's up 5% down five% up five.
[02:42] All the time, it's still up more than 75% more than 74% this year, almost 5% it was up more than 100% at one point, but still.
[02:42] A very so like yeah, reality check as they try to figure out the trade, a little bit of a deep tease Kun John Sabani is going to be stopping by from Bloomberggen.
[02:42] We're going to talk to about TSMC on Bloomberg business Week in just a few. We live from headline to headline, especially when it comes to AI makes.
[02:42] It does I'm Carol Masser along with Tim Stannik, let's get to some stocks on the move this Tuesday with us is Bloomberg TV Market correspondent.
[02:43] Nora Melinda, so let's start with we're not going to start with chips, we're going to start with housing. We are my favorite real estate, I know you do love.
[02:43] Yes, so let's take a look at DR H and nu is takeer DHI now the stock is down earlier nearly down by more than almost 2%.
[02:43] But we are now seeing appearing some of those declines down by about seven tenths of a percent, but essentially the company said that it expects to sell less homes this year.
[02:43] Then originally expected. And so we also saw it slashing its revenue guide. Of course, this just underscores all those issues that were seeing.
[02:43] In the housing market, we're dealing with a pretty broken housing market right now, rates still remain high, of course not as high as they were back in 2023.
[02:43] But we are still seeing the 30 year fix sitting at about six and a half percent, so that essentially is making you know some affordability issues and control.
[02:43] That we're really seeing for the company, but as I was talking to some people on Wall Street, some of the bright spots that we are seeing for D.R. Horton is the fact that gross.
[02:44] Margin was healthy, and we know that that tends to be the metric right now, especially with all these home builders really leaning into the.
[02:44] It's right right so the money that they're making so we'll have to see how this shakes out, but they are kicking off builder earnings.
[02:44] We'll see that's a reality check I know I think it is look, it's a local story too right.
[02:44] Yeah, and I'm just curious, is the whole home building sector down today, let me just pull up four tenth of a percent lower four tenth for S15.
[02:44] Yeah and you're right, not everybody's down, so it's kind of maybe a little bit specific we also remind everybody right, you know this.
[02:44] Every home builder is the same in terms of the markets they play into right Okay, the worst performing stock in the S&P 500 today not a good day for Dana her.
[02:44] Ter DhR, as you mentioned, the worst performing stock in the S&P 500, heading for its worst day since 1991.
[02:44] Earlier when I was tracking it, it was headed for even lower than that, so we are seeing stock plunging as much as 18%.
[02:45] OnNow this is all coming after the fact that it did give a revenue growth guidance for the third quarter that did fall short of analysts.
[02:45] Expectations and you're seeing the stock really taking a beating today as the street really tries to digest what this means for the company more broadly and it's down.
[02:45] About 22% so far this year, that's a big hit, Yeah, interesting not General Motors.
[02:45] Actually having a bullish, I was going to say I wanted to give you guys a bright spot and that is GMm now were seeing the stock right now up by.
[02:45] About4.7% here and this essentially is after the company raised its full year profit guide by another 500.
[02:45] After beating second quarter earnings estimates so a lot of good news here and this was essentially powered by stronger margin.
[02:45] On its largest vehicles and also lower tariff costs we're seeing those to be a tailwind for the company enjoy it while it.
[02:46] I feel like I haven've heard the word tariff in a minute as much as we did before, but well, we got some bad news for you guys may' be hearing it a lot over the next year.
[02:46] Absolutely, but the stock is down though, about 2% year to date, but a bright day for it now.
[02:46] All right, so some buyers coming into that one all right good stuff that is a look at some stocks on the move normal Linda thank you so much, be sure to check out our stock mover.😊
[02:46] Pocast they are five minute episodes of the winners and Losrs in the stock market, you can find it on Apple Spotify anywhere.
[02:46] Hey coming up next if you are sticking with us on Bloomberg business Week daily on Bloomberg Radio, Bloomberg originals, YouTube and more.
[02:46] We're going to talk about the socks, say in TSMC, the socks up more than 5% Kunjasbani from our Bloomberg In team.
[02:46] Going to stop by also some lawsuits happening in the world of Gp ones. Yeah, we're going to get into that we're talking about.
[02:46] Novo Nordesk is suing Eli Lilly accusing its rival of misleading advertising as competition in the U.S market for obesity drugs.
[02:47] Ratchet's up further Mad Mueller, who knows everything and anything she makes us smarter when it comes to GLP when she's going to be along.
[02:47] with all the details and today's big take in one of the most read stories on the bloomberg terminal, sites like polymarket were built to price uncertainty, but new data.
[02:47] Show that they might be rewarding privileged knowledge instead so about inside to know something oh's how it works.
[02:47] 🎼It what you could call insider trading knowing little something something something that everybody else knows. no comment on those mentioned markets where.
[02:47] Or whatever all right, a lot coming your way over the next two hours of Bloomberg Business Week daily, be sure to stick around folks.
[02:47] The clothes coming your way in just a moment, youre listening and watching Bloomberg.
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[02:48] Mondays on B the countdown is on everything you need to get.
[02:48] 🎼the of the market day this is the close stock.

### [E1380] Bloomberg TV+ | 2026-07-21 20:00 UTC | 收盘后
「Bloomberg TV+」直播转录 03:30–04:00
URL: http://39.105.42.197:20307/event/live
【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-22 03:30–04:00(Asia/Shanghai),共 129 段
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[03:30] Let's get to the heart of the matter here. I mean, we did hear from the CFO earlier. is this kind of a one off type of quarter, or we going to start to see a more of a struggle.
[03:30] in the direction of this companyI think that's what the market is trying to figure out, which is why.
[03:30] The share price reaction was pretty muted after raising their guidance look on one hand, I think you'll kind of see this.
[03:30] Lower tariff impact compared to a year ago that will carry forward. Some of the other stuff. can they keep pricing up.
[03:30] Particularly on the gas causinging vehicles that make them so much money with gas prices being high and this war looking like it's going to have some staying power here.
[03:30] That's a big open question, will consumers keep paying this kind of money for $52,000 average price for a general motor's fee?
[03:30] That's still up in the air and can they keep these warranty costs down we've seen quality fluctuate and costs fluctuate with all these companies Well that's what i'm curious.
[03:30] I mean, this definitely seems like one of those quarters where a little bit more about the financials, meaning financial management, particularly on pricing and as you mentioned, of course keeping.
[03:31] Certain costs down with regards to warranties and tariffs is there a volume story here in terms of cars sold going forward?
[03:31] No, in fact, in the second quarter their sales were down, at retail, what they did do more of is they built more vehicles.
[03:31] Inventories got thin in the first half of the year, car companies book their revenue when they build the vehicle not when they sell it to the consumer.
[03:31] That helps them there, they're also building out because they've got a new pickup truck coming to market, they're building there, they did say.
[03:31] Bara said she sees this improved financial performance as being sustainable into 2027, but they're going to have to prove that.
[03:31] And I think the market's telling us that by kind of buying into it just a little bit,' got to keep the prices up.
[03:31] Keep the warranty costs down And is there volume growth, I don't really see it. I think everybody in the industry is trying to play for better.
[03:32] Ring and margins as opposed to way out and getting more volume and the consumers are in a holding pattern right now because of interest rates, inflation and fuel prices.
[03:32] And you know we're talking about general Motors, you can see shares higher by about 5% right now you're also seeing shares afford Ford.
[03:32] Rise a little bit on the day as well higher by about 2% and da, i wonder if there's any takeaways from what we heard from gm, particularly when it comes to.
[03:32] That pricing strategy that they're employing for those larger trucks that you can apply to afford, for example, which reports in the.
[03:32] Yeah, I think you probably can and that's why their shares are up a bit too.
[03:32] If you're buying large pickup trucks and large SUVs from GM, you're probably a potential customer for Ford as well, it's a similar market.
[03:32] Similar kind of consumer, those people have money, so they're less affected by gas prices and that sort of thing, and I think Ford's playing the same game where they're trying to,
[03:32] Sustained margins too to a certain degree. So you could see some similar reaction here than the other part on the cost side of.
[03:33] That helped GM dis forward get the same benefit to their earnings from tariff relief and also quality issues.
[03:33] They've had a real tough time with that for a while, so we'll see if they can kind of flow through to the bottom line and some of these same things that help G's profits.
[03:33] have just about a minute left with you, we're also awaiting tesla earnings tomorrow, we know that their deliveries were pretty good, but when it comes to EV.
[03:33] The hopes was that if you do have higher gasoline prices, that maybe you see more people pulling back on gas engines going in.
[03:33] EVs,It sounds like GM is saying that that narrative doesn't really hold water. I don't think it really does for anybody to be.
[03:33] Honestly, it might have bid for Tesla, but so far that has played into the hands of Toyota and Hyundai because they've got hybrid electric vehicles, it really hasn't help pure.
[03:33] aAll right, David, really appreciate the context as we watch g shares rise.
[03:34] Our bloomberg detroit bureau chief david wsh now coming up it's the closing bells we're just about 15 minutes away.
[03:34] Take you through all the action with mat Orton, he is head of advisory solutions and market strategy over at Raymond jam.
[03:34] This next, this is the close on Bloomberg.
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[03:38] Until we get to those closing bells, i'm romaine busster and i'm katie gryel we are rallying into the finish on this tuesday the 500 high.
[03:38] They helped in a big way by what's going on in the tech sector, what's going on specifically when it comes to semiconductors to those chip names.
[03:38] they've really been sort of the epicenter of volatility for the equity markets over the past few weeks, and at least for today, it's volatility.
[03:39] Yeah and it's kind of interesting good you point that out because it is sort of this yin yang you had more of a sustain a loss last week, but this is kind of the cycle of we.
[03:39] en for the past few months now where anytime you get any sort of meaningful drop in prices here, that volatility to the downside within a couple of days get.
[03:39] Yeah, it's going to be really interesting as we get into the heart of earnings season as we get some of these big tech names to report, particularly their capex numbers.
[03:39] Whether that sort of breaks the pattern of volatility and gives us some clarity on the direction forward, absolutely and investors think they got.
[03:39] Maybe a little bit of a hint as to what's succ come on the back of that nike report that tsmc is indeed going to start raising prices by about 10.
[03:39] Per of strategic move heading into 2027 to talk a little bit more about the chip trade as well as the broader earn season is matt orden.
[03:39] of advisory solutions and market strategy at Raymond James and joins us here in New York. Great see. It's great to join you remain. Let's talk about the chip trade.😊
[03:40] We talk about the gains that have already sort of been booked on this, gains that I think most people would say have been justified, justified by revenue growth.
[03:40] Justified by margins and eps we're heading now into another earnings cycle where not only will we want to hear what happened over the last three months.
[03:40] But whether those CEOs and CFOs are going to be as bullish about the months going forward, are you optimistic, I am optimistic and I fully agree.
[03:40] I think what investors want to hear is that not only are the hyperscalers continuing to make investments and increase their capex numbers.
[03:40] First look at that tomorrow after the bell with alphabet and then it's really are we still seeing the revenue and earnings acceleration taking place at.
[03:40] of these semiconductor companies that you would need to justify a lot of their share price moves. so far, I would say the parabolic moves are just.
[03:40] By parabolic increases in earnings growth, so we have to see that sustained and i think we're going to see that given what we've already heard from asml.
[03:40] We've heard from tsmC during earnings and what they've just reaffirmed with their pricing power, but does this become one of those situations where what benefits the make?
[03:41] Ands up hurting some of the other companies because every time I hear about price increases, that's great if you're the one selling and making those price increases, but if you're the taker.
[03:41] Of that on the other end, or is that the wrong way to look at it, particularly when it comes to the larger customers I think the larger customers are a little bit price.
[03:41] At this point, because they still have free cash flow they can put into this, the capital markets are open to them in order to continue to.
[03:41] Fance what they have to do to build and when you look at the backlogs that we heard last quarter and through a lot of channel checks that we've done over the past few.
[03:41] What you've heard from a lot of CEOs of these hyperscalers is that they have $2 trillion backlogs for their cloud businesses.
[03:41] Spending a trillion dollars to get $2 trillion in real tangible revenues that are legally binding in most cases, that seems like money.
[03:41] So it sounds like you remain confident in that story at a time when there's a lot of questions being raised.
[03:42] Ct that we were showing yesterday that you'd look at 12 month forward cash flow estimates for hyperkiers versus semiconductors.
[03:42] The flip flop in favor of the semiconductors, and when it comes to the capital markets, I mean, you think about some of the receptions in the primary.
[03:42] dbt markets to some of these big deals they're starting to cool a little bit we're talking about over subscriptions, but maybe less than we would have seen.
[03:42] In the previous six months or a year ago period, but it sounds like what you're saying is that you still remain.
[03:42] Pretty confident in that story I remain confident katie, but it's all about execution right so earnings season is a great time to.
[03:42] Make sure that these companies are on track, those who are spending, are they monetizing in their cod businesses, Are we seeing the RPO.
[03:42] For obligations continuing to grow, which means there's still a backlog for where they're investing all of that free cash flow and i think the market pushing.
[03:42] Back a little bit on the massive amount of issuance that we've seen both from debt equity, i think that's healthy just to say like you have to show.
[03:43] Some sort of return or a path towards that and the more successful companies I think will, and that's what I expect to see tomorrow starting with alphabet.
[03:43] And Matt, I'd love to get your perspective on this broadening out trade because we've been mentioning it, you think about what we're seeing in value.
[03:43] Outperforming, small caps outperforming, and it's kind of curious and unintuitive given how much time we spend talking about big tech.
[03:43] And what's going on with the AI trade, but when it comes to that broadening out, do you think that there's still room to run when it comes to those areas of?
[03:43] MarkeI think there's room to run katie, but I think you have to be specific about where you're looking for investment so the earnings bread story has been here.
[03:43] For a while, we've had earnings breathth across S&P 500 sectors for well over a year at this point. And what's encouraging is that we're seeing other.
[03:43] SectorsFs primarily who have already been reporting, we're seeing that earnings momentum continue to the upside and that's finally being rewarded.
[03:44] With respect to share prices, so i think there's more room to run in financials, other sectors have to deliver that growth, but then the question.
[03:44] I valuations aren't necessarily attractive across all of those spaces so i do want to get your thoughts on what's been happening in the pharmacy.
[03:44] SpI mean basically, at least when you look at the main indexes, whether there's Nasdaq, biotech, S&P, pharmaceuticals, all keeping pace with the broader.
[03:44] MarketSo far this year and Bloomberg just had a great story about the outperformance of biotech and drug IPOs this year relative to all of these tech IPOs.
[03:44] That we keep talking about, which have underperformed here. Is that a long term story, I think it is. So, you know, Romaine, we were talking beforehand that we've been.
[03:44] Opportunities in biotech really for this entire year, i think that had been an underrepresented story up until the past couple of months.
[03:44] Seen biotech outperform, but I think there's sustainability there because large pharmaceutical companies have patent cliffs you're seeing and hearing.
[03:44] During their earnings reportsWhat do they do, they buy smaller cat biotech companies and you're seeing that reflected in the investment banking numbers that have.
[03:45] Be reported so far, so i think there's a lot more room to go on the biotech side I would use down opportunistically it's never a trade.
[03:45] To chase, but if rates which have gone to4, six in a hurry at the 10 year yield start to come down a little bit, i think that opens up the path.
[03:45] Biotech to really start to outperform again as investors maybe are more willing to take risk again mat to have you here.
[03:45] Matt orton, head of advisory solutions and marketing strategy at raymond jam as you count it down to those closing bills and i do want to just draw attention to that article.
[03:45] It was a great article because I kind of struck me by surprise IPOs of biotech and pharma companies weighted average returns so far this year, 55%.
[03:45] everythingThat's down4.4%I have great news for you and the audience we're going to discuss that article at length at.
[03:45] So stay tuned because it will be a robust conversation it will be a robust conversation, the rally in the markets at least robust.
[03:46] You look at sort of the aggregate number here, though this is not a broad base rally yeah, not at all today, but again, it feels like a sort of wait and see moment.
[03:46] We know we have the big names coming up in the days ahead, we know we're getting alphabet intel the list goes on and you know we'll have to see what sort of.
[03:46] 🎼Analysts that provides what new narrative emerges about 220 stocks in the S&P 500 R in the green LED largely by sand.
[03:46] Western digital and microron to the downside, a lot of those materials and industrial names dragging the index lower, a full breakdown starts right.
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[03:46] C starts right now and right now we are two minutes from the end of the trading day.
[03:46] Katie Gr taking it through to that closing bell, it's a global Simon cast car masss ti senivic, they join us now welcome to our audiences across all of our.
[03:46] Lomberg platforms, television, radio are partnership with you with all of the major U.S indices solidly in the the S&P upper percent.
[03:47] the Nasdaq indices Carol Maser about to Yeah, thank you Semis. they go up, they go down. they go up, they go down. They go up today more than.
[03:47] 5% every name to 30 names in the Philadelphia semiconductor index, 30 of them, they are all higher in today's session.
[03:47] Oh that's good I like, you know me, I used to talk about the She loves all her soccer names in China.
[03:47] You know, I do all right, I don't have a favorite also higher, but I do like TSMC also higher today is oil.
[03:47] Brent $91 a barrel up another $2.20 WTI up, another$168.
[03:47] 5 roughly for wTI futures, Kaie, you wouldn't know it from looking at the equity market I know we've been talking about that on the close this sort of.
[03:47] we're seeing you do see that a little bit when you take a look at the bond market, ten year yields back above 460 it's going to be interesting.
[03:48] To see how long we can sort of see that discordance among these asset classes Yeah and it gets to this idea of what type of dispersion we could potentially.
[03:48] In this earn season because of all of the factors sort of had play, including some of the geopolitical factors that have driven a lot of concern.

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