This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters
Good morning. A 77 per cent increase in second-quarter earnings from Taiwan Semiconductor Manufacturing Co was not enough to boost its shares, those of the chip industry generally or indeed the Nasdaq 100. All of those fell yesterday. TSMC is the world’s most irreplaceable company and it is firing on all cylinders. However high its flying, though, expectations are flying higher. More ruminations on this theme below. Email us: unhedged@ft.com.
您已阅读11%（672字），剩余89%（5203字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。