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![rwang07 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::833295407182516224.png) Ray Wang [@rwang07](/creator/twitter/rwang07) on x 14K followers
Created: 2025-07-18 11:12:51 UTC

$TSM CFO Wendell Huang was on Bloomberg earlier today. 

Some key points (nothing much deviated from earnings call): 

1) Currency volatility is "big uncertainty" to margin 

2) It will take years for the US to achieve that. TSMC relies on hundreds  of partners in Taiwan to supply the raw materials and services needed in chipmaking — a giant network that takes time to replicate because of  cultural differences and cost gaps. 

“It takes Taiwan a few decades to build up this whole ecosystem. It will  take a long time to build that kind of ecosystem in the US.”

3) Macro uncertainties (currency + tariffs) keep company "conservative" 

4) TSMC approaches currency volatility by selling dollars on the spot market, using forward contracts, and shifting some cash to an offshore entity with U.S. dollar-denominated financials.

![](https://pbs.twimg.com/media/GwIqq8YXYAAur4V.png)

XXXXX engagements

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**Related Topics**
[taiwan](/topic/taiwan)
[volatility](/topic/volatility)
[currency](/topic/currency)
[quarterly earnings](/topic/quarterly-earnings)
[$tsm](/topic/$tsm)
[wang](/topic/wang)
[taiwan semiconductor](/topic/taiwan-semiconductor)
[stocks technology](/topic/stocks-technology)

[Post Link](https://x.com/rwang07/status/1946166268928901571)