Prices of Taiwan-based Pure-play Foundries Fall 中晶圓代工降價 台廠成熟製成報價跟著降

Concerns about rising inventories in the semiconductor industry have led to worries about order cancellations. In July, Chinese semiconductor foundries took the lead in lowering prices by more than 10 percent. Taiwanese factories are also facing the pressure to lower their prices.

Liu Pei-chen, Director, Taiwan Industry Economics Services, TIER: “IC design or IDM factories are cutting orders at foundries, including Chinese foundries. ”

Chinese foundries have taken the lead in reducing prices in July, with a drop of more than 10 percent. Now, Taiwan's domestic foundries can't hold on to their prices, especially those with more mature manufacturing processes, such as UMC, Vanguard International, and PSMC. Rumors are the cumulative price decline since July has reached 20 percent.

Liu Pei-chen, Director, Taiwan Industry Economics Services, TIER: “Taiwanese foundries such as Powerchip or Vanguard International have in fact slowly seen their capacity utilization rate loosen in the third quarter. Taiwanese second-tier foundries will face a challenge in terms of price.”

Foundry stocks are facing order cuts, price cuts, and negative impacts. TSMC's intraday stock price fell 0.1 percent at one point. Second-tier foundry UMC's stock price fell more than 2 percent intraday, while Vanguard International fell 1.39 percent. These performances dragged down the broader market index, with the TAIEX reaching an intraday low of 14,636 points at one point.

Wang Jung-hsu, CEO, Marbo Investment Advisors: “Consumer electronics are facing high inventory pressure right now. Inventory adjustment takes time. Additionally, the Fed continues to hike interest rates, which will further soften consumer spending. If they maintain this high-interest rate policy for a period of time, then the longer it will soften consumption spending. ”

Apple's new iPhone will be launched on Sept. 8, which should help the Taiwanese supply chain. However, analysts believe that the impact on Taiwanese companies is limited. There will only be a short-term positive effect if sales in the future are not good. There is still the haze of inventory destocking for the long term. Electronic stocks will be under pressure from the second half of this year to next year. 

因應砍單，7月中國晶圓代工業者已率先降價因應，降幅超過１成。台經院產經資料庫總監劉佩真表示，「在這個IC設計或者是IDM廠在進行晶圓代工的一個砍單，中國的業者首波砍單的一個對象。」

如今台灣本土晶圓代工廠，價格也守不住了，尤其成熟製程，像是聯電、世界先進、力積電，據傳7月至今累計降幅已達20%。

劉佩真指出：「台灣像是在力積電或者是世界先進，慢慢的其實在第3季也已經看到，在產能利用率有出現鬆動的一個狀況，台廠2線的晶圓代工業者將面對的是價格方面的一個挑戰。」

砍單和降價，利空衝擊晶圓三雄股價，台積電盤中表現由紅翻黑，一度跌0.1%，2線廠聯電盤中股價39.4元，跌幅超過2%，世界先進跌1.39%。拖累大盤指數，盤中多空震盪，指數最低一度來到1萬4636點。

萬寶投顧執行長王榮旭表示：「現在消費電子的一個部份就是在於庫存的一個壓力，庫存的調整需要時間，再來的話就是FED的一個連續升息，這個連續升息會造成消費端更加的一個縮手，如果說高利率這樣的一個政策維持一段的時間那這個部份的話，影響消費縮手的一個時間就會變長。」

9月8日蘋果新機上市，台廠供應鏈可望吃下大補丸。不過分析師認為，對台廠挹注有限，若未來銷量不佳恐怕也只有短期效應，長期觀察仍有庫存去化陰霾，電子股從下半年到明年，股價反彈有壓力。