Nvidia's quarterly earnings release on Tuesday will serve as a critical test for Asian semiconductor stocks closely tied to the AI chipmaker's fortunes.
Analysts project Nvidia to report revenue of roughly $92 billion for the quarter, nearly double the prior period, with full-year guidance seen in a $103 billion to $105 billion range. The results will provide clarity on demand for Blackwell and Hopper chips, which underpin AI infrastructure globally.
Taiwan Semiconductor Manufacturing Co. (TSMC), the exclusive manufacturer of Nvidia's most advanced chips, is positioned as the most direct proxy among Asian peers. TSMC's shares closed at $410.12 on Monday, down 2.11%, after a 74% gain over the past year. The company's capacity allocation comments will be closely watched for signals on whether AI-driven chip demand is accelerating or stabilizing.
South Korea's SK Hynix, the world's leading High Bandwidth Memory supplier to Nvidia, has surged 513% over the past year. Shares fell 4.61% on Monday to ₩1,594,000 as investors reassessed risk ahead of the earnings release. Samsung Electronics, another key HBM competitor, also declined 2.82% to ₩249,750, though its 249% annual gain reflects strong investor confidence in AI-related memory demand.
Japanese equipment makers tied to semiconductor production are similarly exposed. Advantest Corp., which tests every Nvidia chip before shipment, dropped 2.29% to ¥33,710, while Tokyo Electron, a major capital expenditure beneficiary in chipmaking tools, was little changed at ¥55,210. ASE Industrial, the largest independent chip packaging firm, slipped 0.74% to $36.24, with its 267% annual gain underscoring the sector's momentum.
Broader market sentiment remains cautious. South Korea's Kospi index fell 2.7% on Monday, led by declines in chip-related equities. Investors will scrutinize Nvidia's guidance on HBM orders, which will directly influence SK Hynix and Samsung's near-term outlooks, as well as TSMC's comments on capacity utilization for AI chips.
