Valuation Debate & Market Sentiment

Stock broke below key moving averages; TSMC ADR weakening below NT$2,400; PEG near 1, forward P/E ~25x; contrarian 'bargain' thesis vs fully-priced narrative; institutional accumulation continues; insider buying; post-earnings drop despite strong results signals need for execution proof. Technical levels: support $397.70, resistance $419 from Q2 selloff on capex raise. Soros raised stake 1,000%, but P/S 17.6x vs 8x avg highlights premium.