Just a couple of months back investors had been in gloomy mood over chip maker Taiwan Semiconductor Manufacturing Company (TSM:NYSE), or TSMC as it is usually known. Yet the stock has now rallied about 20% after third quarter results at the back end of October as financial markets price an end to the prolonged chip slump.

TSMC chief executive CC Wei has been saying he anticipated that the chip industry’s malaise could be over ‘very soon’, even if uncertainties linger around China, both from the point of view of its own slowing economy and ongoing trade tensions between Beijing and Washington.

This means that fourth quarter earnings next month (11 January) could set the scene for not just the company but the wider technology sector. Only a handful of manufacturers can make the most advanced chips, so when chip designers go looking for fabrication capacity, TSMC is a company to talk to.

That means a spot at the negotiating table regarding anything AI (artificial intelligence), a theme we expect to continue to power growth opportunities through the New Year.

Analysts expect TSMC to post earnings of $1.36 per share, marking a near 25% decline year-on-year on a mid-single-digit fall in revenue to $19.1 billion.

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QUARTERLY RESULTS

2 January: Smart Global

3 January: Unifirst, Resources Electronics

4 January: Walgreens Boots, Lamb Weston Holdings, RPM, Conagra Brands, Neogen, Simply Good Foods, WD-40, Lindsay, Helen of Troy Limited

5 January: Constellation Brands, Sodexo, Greenbrier

8 January: Concentrix, Commercial Metals, Tilray, AZZ

9 January: Albertsons, Synnex, Jefferies Financial, Acuity Brands, PriceSmart, Accolade, Applied Digital, Kura Sushi

10 January: KB Home

11 January: Taiwan Semiconductor, Fast Retailing, Delta Air Lines

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