Posted 3/8/2024, 12:48:10 PM
Taiwan Semiconductor Manufacturing Stock Soars on Strong Earnings and Outlook Amid Semiconductor Industry Turnaround
- Taiwan Semiconductor Manufacturing (TSM) stock is up 43% this year and surged 11.4% this past week
- The company reported an 11.3% year-over-year sales increase in February, suggesting a recovery in the semiconductor industry
- Industry data shows global semiconductor sales grew 15.2% in January, the first monthly increase after 7 months of declines
- TSM is on track to meet its 20-24% revenue growth target this year, driven by demand for AI and high-performance computing
- The text cites positive industry trends supporting TSM's growth, like the CHIPS Act funding semiconductor investments in the U.S.