Taiwan has political and business claims on the stock investor community of North America. This tiny island of free enterprise has won the tacit acceptance of Mainland China after decades of bullying and confrontation. The people of Taiwan have exemplary commercial and industrial skills. They have an enviable reputation for industrial and technological adaptation.

Consumer electronics have global appeal. New devices and product features revolutionize modern life at least once a year. Mobile communications and technologies are the most important segments of this world economy, for nothing attracts more customers than small and light telephones that keep you always in touch.

Semiconductors constitute the business behind this ADR from Taiwan. Silicon chips are less well-known than mobile electronics, but no cellular or flash equipment can work without them. The company makes reliable semiconductors at competitive rates. This ADR is a rare opportunity in the generally depressed stock market environment of summer 2008.

The Semiconductors Industry is rather crowded, but this ADR boasts consistent business performance and financial strength. Sales have grown annually by about 54% on a Trailing Twelve Months basis. The industry scraped together 2.07% sales growth during the last four quarters. This company has outstripped the competition in market share growth for five years at a trot. Investors anticipate more of the same, as Capital Spending Growth has topped 100% over five years. The Gross Margin has also consistently topped 50%.

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