United Microelectronics Corp

2303: XTAI (TWN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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UMC Earnings: Second-Half Caution Warranted as Tariffs Start to Bite; Maintaining TWD 60 Valuation

Phelix Lee

Jul 31, 2025

United Microelectronics' June-quarter revenue was TWD 58.8 billion, up 2% sequentially. Gross margin improved by 203 basis points from the previous quarter to 28.7% due to higher utilization. However, gross margin slightly missed management's guidance due to a strong Taiwan dollar.

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United Microelectronics Corp

UMC Earnings: Second-Half Caution Warranted as Tariffs Start to Bite; Maintaining TWD 60 Valuation

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