Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Thursday, April 10th. I'm Julie Morgan.

TSM reports Q1 revenue. Amazon backs away from China and the cost of snail mill could go up.

Taiwan semiconductor manufacturing reported a nearly 42% surge in Q1 revenue,

fueled by strong demand for AI servers and smartphones ahead of looming U.S. tariffs.

First quarter revenue totaled $25.6 billion, up 41.6 percent compared to the same

period in 2024, marking the company's fastest pace of growth since 2022. According to Bloomberg,

analyst on average expected around $25.3 billion. March revenue also rose 46.5% year over year, as electronics makers

built up inventories in U.S. warehouses, preparing for possible trade disruptions. If you remember last

month, the CEO of TSM and President Trump jointly unveiled a $100 billion expansion in U.S. chip-making investments,

supporting the White House's push to restore manufacturing. The president attributed the increased

commitment to the impact of higher tariffs. Taiwan's semiconductor whose customers include

Apple, Nvidia, and AMD, will report its full Q1

earnings on April 17th, so just a week away. Investors will be watching for a possible

downward revision to the full-year sales target in capital expenditure plans as the outlook

for global chip demand weakens amid uncertainty following U.S. tariffs.

The company expects net revenue in the range of $25 to $25.8 billion, with a consensus

estimate of $25.52 billion for the first quarter of 2025, with a gross margin of 57 to 59%.

Amazon has canceled orders that originate from China and Southeast Asian countries,

leaving certain vendors on the hook with unsold inventory.

According to a document viewed by Bloomberg, Amazon appears to be reducing its exposure

to U.S. tariffs on imported

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