TSMC's Peer ASE Tech Stock Gains In Premarket Here's Why
Portfolio Pulse from Anusuya Lahiri
ASE Technology Holding Co, Ltd (ASX) reported a Q3 net revenue decline of 18% YoY to $4.87 billion, missing the consensus of $5.12 billion. However, the revenue grew by 13% QoQ. The company's gross margin increased by 20 bps QoQ to 16.2%, and the operating margin grew by 50 bps QoQ to 7.4%. ASX shares traded higher by 3.49% in premarket.
October 26, 2023 | 12:49 pm
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POSITIVE IMPACT
ASE Technology's Q3 revenue missed consensus, but QoQ growth and margin improvements may have led to the premarket stock price increase.
Despite the YoY revenue decline, ASE Technology's QoQ revenue growth and margin improvements are positive signs. These factors, along with the overall market sentiment, may have contributed to the premarket stock price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TSMC, a peer of ASE Technology, was mentioned in the context of ASE's earnings report.
TSMC was mentioned as a peer of ASE Technology, but the news does not contain any specific information about TSMC that would impact its stock price.
CONFIDENCE 100
IMPORTANCE 20
RELEVANCE 20