TSMC's stock price reaches NT$1,000
$Taiwan Semiconductor(TSM.US$ The stock price broke through 1,000 Taiwan dollars and maintained an increase due to the artificial intelligence boom ahead of the company's financial results report.
The stock price rose 2.7% in the Taipei market, hit a record high, and recorded an increase of close to 70% since the beginning of this year. The company, which is the world's largest chip maker, is expected to report strong results in this month's earnings report.
The market capitalization based on American Depositary Receipts was recently $Berkshire Hathaway-B(BRK.B.US$ It surpassed to become 8th in the world, and the total market value is about to reach 1 trillion dollars. TSMC is gaining popularity from investors around the world due to its cutting-edge technology and evaluations, but it also benefits from NVIDIA's position as a major supplier of advanced chips.
According to a survey of 29 analysts, TSMC's sales for the second quarter increased 36% from the same period last year, and are expected to grow rapidly since the fourth quarter of 2022. Bloomberg Industry Research predicts that the company's sales will exceed market expectations by 10% and lead the performance of the Taiwanese foundry industry.
UBS revised TSMC's full-year capital investment outlook upward this week due to increased demand for generative AI and a recovery in profit margins supported by cutting-edge technology. Meanwhile, the possibility that Apple will adopt TSMC chip laminated products is also boosting market sentiment.
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