TSMC Crushes Earnings, Netflix Falls, and a Risky TFSA Strategy Goes Viral
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What is the main topic discussed in this episode?
Investing is simple, but don't confuse that with thinking it's easy. A stock is not just a ticker. At the end of the day, you have to remember that it's a business.
Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.
If there's uncertainty in the markets, there's going to be some great opportunities for investors.
This has to be one of the biggest quarters I've seen from this company in quite some time.
Welcome back to the Canadian Investor Podcast. I'm Simon Beranger. I'm back with Dan Kent. We have a fun episode up for you. Of course, news and earnings coming up on Thursday here. So we'll go over quickly on the June CPI that just came out on Monday. We'll go over TSMC. So Taiwan Semiconductor released their quarter, which was probably one of their best ever. Just a solid quarter. Not bad. surprising if you haven't been living under a rock and are aware that demand for chips and semiconductors are just it's just very high right now we'll also talk about the intuitive surgicals so the maker of the da vinci surgical robots that was down 14 on the earnings release last week we'll talk about netflix another one that was hit hard by its earnings we'll talk about why it went down i think it was what seven eight percent on the day when it was all said i think it was more
More than that?
It might have settled at 7% or 8%, but I think it opened like 12% or 14% down.
And then we'll go over Domino's and then finish up with Coach Jekyll. And if we have time, we also have a word of caution when looking at financial media and even sometimes what is called expert advice. So I think it will be a fun discussion that we'll have at the end here for a Globe and Mail article that came out. Was it today that article came out?
Yeah. And there's a lot of talk about it because it's it's one of the wilder articles I've seen on there. So, yeah, it should be a good discussion.
OK, so, yeah, so we'll start off with the June CPI, like we mentioned. So consumer price index cold in June coming in at two point eight percent. That was down from three point two percent for me. And expectations from economists that were surveyed by Reuters was around 2.9% for the CPI print. So it actually came in lower than expectation. The biggest factor, like people may have guessed, was that it was essentially deceleration with gasoline prices. While they still increased close to 21% year over year, it was a deceleration from 33% in May. Now, there's a couple of interesting areas, and Dan Foch and I will talk about this a bit more in depth on our Friday Live, so you can catch that on Saturday if you're listening to the audio.
But essentially, food... is still a really sticking point here. So food purchase from stores, so typically grocery stores, increased 3.9%. That was lower than the 4.3% in May. However, food as a whole increased 3.5%, while it did decrease slightly month over month. And that decrease month over month, I'm always a bit skeptical, mainly because even if it's a decrease, first of all, it doesn't mean that your own personal basket actually decreased in price. And even if it did, minus 0.2% month over month is, I think you won't notice it. I think that's fair enough to say. So I think it's interesting to see the decrease, but at the same time, I think when people see this, I'll probably be like, well, I don't feel like my food got any cheaper.
If anything, it got more expensive. And Staying on the food topic, it was the 17th consecutive month where food prices increase faster than the headline CPI number. So that is not a really good streak, unfortunately. And that's what we're seeing is that food inflation is just staying pretty elevated. And core inflation measures... Continuity is lower here with CPI median hitting 1.9% and CPI trim hitting 1.8%. These are the measures that are used most by the Bank of Canada. Of course, they were talking last fall about using this, I think, this gauge or series of other data because they were thinking they were... One of the deputy governors was saying that the media was and the markets were relying too much on the core measures.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:01–10:48
2
How did June CPI data diverge from household inflation experiences?
10:48–30:08
3
Why did TSMC report a blockbuster quarter and what does it mean for the AI chip boom?
30:08–39:38
4
What concentration and capacity risks did TSMC highlight in its results?
39:38–49:55
Speakers
3 identifiedMore from The Canadian Investor
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