UMC - United Microelectronics: Caught Between Headwinds And Tailwinds

• The Q1 numbers from UMC were arguably the finest yet and there is reason to believe the Q2 ones could be even better.
• Valuations for UMC are drawing interest, especially when combined with the pace of growth, but that’s partially due to a big drop in the stock.
• UMC itself is doing well, but there are a number of other issues that are having an adverse impact on the stock.
• Long UMC has its merits, but they’re offset by unresolved issues that are likely to make it difficult for the stock in 2022.

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