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Piper Jaffray Sees Taiwan Semi as 'Major Supplier' in Wafer Fab Market with NY Plant Possibly Online in Two Years

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Shares of Taiwan Semi (NYSE: TSM) could be trading higher Tuesday afternoon following an earlier note from Piper Jaffray's Jagadish Iyer. The stock is up more than 1.3 percent.

Iyer believes the company could be planning a wafer fabrication facility in upstate New York, creating an environment where Apple (NASDAQ: AAPL) could want to take a portion of risk out of its supply chain given the production possibilities within the US. The Piper analyst suggested Taiwan Semi could eventually become a major supplier in this market.

Iyer set a timeframe for the facility groundbreaking as 12-18 months, with a plant possibly online within two years.

Taiwan Semi shares last traded at $16.95.

Latest Ratings for TSM

DateFirmActionFromTo
Jul 2016JP MorganDowngradesOverweightNeutral
Jul 2016NomuraDowngradesBuyNeutral
Feb 2016Morgan StanleyUpgradesEqual-weightOverweight

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