TSMC Reports $30 Billion Earnings

Jan 19, 2024 thejournalbiz

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip maker, had a very good end to the week.

Tweet on TSMC shares

TSMC's market value swelled by roughly $31 billion to reach almost $514 billion by the end of Taipei trading Friday, according to @FactSet data.#semiconductor #chips #ai #Taiwan pic.twitter.com/juCTnPJQms

— The_Journalbiz (@the_journalbiz) January 19, 2024

Factset chart

The Apple supplier’s shares soared in local trading Friday after it indicated the inventory glut that plagued the industry in 2023 might be over. Its U.S.-listed ADRs dipped in early action.

TSMC’s market value swelled by roughly $31 billion to reach almost $514 billion by the end of Taipei trading Friday, according to FactSet data. It’s still below the highs above $600 billion seen during the pandemic.