Buy the dip. That was the mindset around chip stocks this week as investors scooped up beaten-down shares, sending Nvidia to a record high. A strong outlook for Taiwan Semiconductor (TSM) was enough to revive Wall Street’s enthusiasm for AI as growing confidence in the AI boom overshadowed chip supplier ASML’s sluggish forecast and reports…
STORY: The Dow registered its fourth record high in five days on Thursday, after stronger-than-expected monthly retail sales and a chip stock rally powered by Taiwan Semiconductor’s upbeat forecast. The Dow added more than a third of a percent, while the S&P 500 and Nasdaq ended essentially flat. Shares of Taiwan Semiconductor Manufacturing, the world’s…
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) just delivered a blowout third-quarter performance, sending its stock up 8% in premarket trading. With revenue up 36% year-over-year to $23.5 billion and a 54% jump in net profit, Taiwan Semiconductor is riding the wave of skyrocketing demand for AI chips. High-performance computing, driven by AI, now makes up 51%…
TSMC logo at the 2023 World Semiconductor Conference in Nanjing, China.Photo: VCG (Getty Images) In This Story Taiwan Semiconductor Manufacturing Company (TSM) (TSMC), the world’s largest chipmaker, saw its profits soar 54% in the third quarter, driven by continued demand for its artificial intelligence-capable chips. The next president will face a debt problem that could…