Seminconductor demand is outstripping the supply

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Attractive valuations and strong global demand for electronic stocks have led fund managers to remai...

Attractive valuations and strong global demand for electronic stocks have led fund managers to remain positive on Asia. John Mytton, Far East fund manager at Global Asset Management (GAM), says in Asia, unlike the US, and in Taiwan in particular, technology is seemingly not overpriced, provided you believe the growth rates are sustainable and American demand will not significantly decline. He says: "An example of a globally competitive and exciting company in Taiwan is Taiwan Semiconductor Manufacturing (TSMC). Its earnings are forecast to grow 66% this year and 73% next year, reflecting ...

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