NVIDIA's earnings ignite the Taiwan stock market's AI concept stocks, with TSMC's market value soaring nearly 2 trillion in a single day—how do analysts like Huang Man view the future market?

**Earnings surpass expectations, can TSMC continue its strong rally?**

After-hours, NVIDIA's stock price surged over 6%, and TSMC's ADR moved up in tandem, boosting the momentum of the Taiwan stock market's opening. TSMC reached around 1460 NT dollars in early trading, nearly a 4.7% increase, becoming the leader of today's market rebound. Market sentiment has warmed, and investors are regaining confidence in the AI sector.

However, analysts such as Huang Man from Moore Capital advise that this TSMC rebound is indeed aided by the confidence repair brought by NVIDIA's earnings, but the chip market remains relatively chaotic. The key variables are whether foreign institutional investors' futures short positions truly decrease and whether NVIDIA's stock price can maintain its strength. If this is just a one-day reaction to earnings, TSMC may struggle to sustain the overall rally.

**Can the AI boom continue? The key depends on NVIDIA's "momentum"**

Analysts emphasize that the continuation of TSMC's current rebound entirely depends on NVIDIA's subsequent performance. If NVIDIA continues to hit new highs, TSMC is expected to stabilize above the 1465 NT dollar monthly support line and further challenge the resistance zone above 1460 NT dollars. Conversely, if NVIDIA pulls back, TSMC's rebound momentum will also be limited.

From a technical perspective, TSMC's stock price has returned near the monthly moving average, which could be an appropriate entry point for long-term investors optimistic about AI trends to deploy gradually. However, the market expects the subsequent trend to be a "mild gradual rise," with foreign institutional investors' movements remaining a key factor influencing the stock price. Investors are advised to enter in stages and avoid chasing highs for short-term gains.

**Concerns in the US market environment—can Taiwan stocks stand out alone?**

Although NVIDIA's strong earnings ended the Nasdaq and S&P 500's four-day losing streak, uncertainty over the Federal Reserve's December rate decision still troubles the market. According to the latest meeting minutes, several Fed officials believe that a December rate cut is "not necessary," and with employment data fluctuating, market expectations for easing policies have noticeably cooled.

From a technical standpoint, the S&P 500 has fallen below the 6800-point support and entered a high-level consolidation phase. If it cannot regain this level, a further decline to 6400 points cannot be ruled out. This external uncertainty directly limits the rebound space for Taiwan stocks, and investors should remain cautious amid volatility.

**Deployment strategy: gradual entry and wait for confirmation**

Overall, NVIDIA's earnings have indeed injected strong momentum into AI stocks, but with foreign institutional positions not fully returning and external US market variables still present, replicating past large rallies for TSMC is more challenging. Investors are advised to adopt a staged deployment strategy, patiently wait for foreign capital stabilization and NVIDIA's trend confirmation before increasing positions, thereby positioning themselves steadily in this long-term AI trend.