Micron CEO: Storage chip shortage will last at least until after 2026, providing solid support for short- and medium-term product pricing

Bernstein stated that the continued growth in artificial intelligence demand and the resilience of high-end smartphone demand may continue to drive revenue growth for TSMC (TSM.US). Bernstein analysts pointed out that, based on monthly revenue data, TSMC's revenue in the third quarter reached NT$1.49 trillion, 3% higher than market expectations. The firm expects TSMC's revenue this year, denominated in US dollars, to grow by 41%. Analysts said that TSMC will release its full third-quarter financial report on Thursday, and investors will focus on its 2-nanometer process capacity ramp-up, the possibility of further expansion in the US, and the outlook for 2027. Bernstein believes there is upside potential to its previous forecasts of 30% annual revenue growth for TSMC in 2027 and 2028.

The main contract of Chinese INE crude oil futures just broke through the 730.0 yuan/barrel mark, now trading at 729.7 yuan/barrel, down 1.04% for the day.

Nymex US crude oil futures main contract fell by 1.01% intraday and is quoted at $90.57 per barrel.

Piper Sandler has lowered PepsiCo's target price from $176 to $140.