TSMC is seen as a prime beneficiary of the AI boom
Taiwan Semiconductor Manufacturing Co. is considered by some analysts that is still being traded at pedestrian valuations even after surging to a record high, there is potential for its upcoming results to drive the stock even higher.
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Taiwanese chipmaker TSCM provides earnings, and sales details on Thursday. The stock has seen a rapid rise sine 2022, via Bloomberg#tscm #semiconductor #chips pic.twitter.com/b9wEZWCRNu
— The_Journalbiz (@the_journalbiz) April 17, 2024
Bloomberg chart
Some market observers see a possibility that the world’s largest chip foundry will raise its revenue and capital expenditure forecasts for the year following its better-than-expected sales for the latest quarter. This would provide evidence that the strong growth fueled by artificial intelligence will be sustained.
As the key maker of chips designed by Nvidia Corp. and others, TSMC is seen as a prime beneficiary of the AI boom. While the current outlook for smartphones and other consumer products remains cloudy, the industry’s continual upgrades to ever-finer circuitry are another positive.
