Time to Buy TSM and UMC? (TSM, UMC)

Includes: TSM, UMC
by: Andy So

TSM, Taiwan Semiconductor Manufacturing Company Limited and UMC, United Microelectronics Corporation are both down at the moment. I would look at this as an opportunity to buy both stocks.

Utilization at both semiconductor companies has reached nearly 100%. 2005 4th quarter revenues are set to break record levels. TSM is the world's largest contract manufacturer of microchips, UMC is the world's second largest. Both stocks appear to be undervalued. I see a bright outlook for both companies.

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