报告名称：Taiwan Semiconductor(2330 TT)Buy： A slower recovery trajectory
报告类型：海外市场
报告日期：2016-04-15
研究机构：汇丰银行
页数：9
简介：1Q16 results inline; 2Q rebound not as steep, although marginsguided ahead; Apple and QCOM softness likely impacting
Shares may pause given slower recovery trajectory, yet full-yearguidance still implies approx. 20% y-o-y growth in 2H16
Reiterate Buy; trim 2016/17e EPS by 1-2%;TP down to TWD171(TWD173 prior) on unchanged 14x PE
下载地址：Taiwan Semiconductor(2330 TT)Buy： A slower recovery trajectory
