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24x7Report > Blog > Finance > Why Taiwan Semiconductor Stock Raced Nearly 5% Higher Today
Finance

Why Taiwan Semiconductor Stock Raced Nearly 5% Higher Today

Last updated: 2024/02/08 at 1:23 AM
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Why Taiwan Semiconductor Stock Raced Nearly 5% Higher Today
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A pair of encouraging information objects pushed chipmaking powerhouse Taiwan Semiconductor Manufacturing‘s (NYSE: TSM) inventory notably increased on Wednesday. The corporate’s shares rose by nearly 5% in worth, handily beating the 0.8% improve of the bellwether S&P 500 index.

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Taiwan Semi posted encouraging gross sales for JanuaryThe proper of firm, in the precise place

Taiwan Semi posted encouraging gross sales for January

The primary merchandise was Taiwan Semi’s newest month-to-month income report.

The corporate reported that it earned just below 216 billion new Taiwan {dollars} ($6.9 billion) in January, which was up considerably on each a sequential and an annual foundation. The determine was 22% increased than the December 2023 tally and represented an almost 8% year-over-year enchancment.

That alone was a heartening growth. Demand for chips stays excessive, significantly now that there is an arms race within the tech sector to develop compelling synthetic intelligence functionalities and apps. This performs very effectively into the fingers of chipmakers like Taiwan Semi.

The second piece of reports, divulged a bit sooner than the income replace, is {that a} trio of prime Japanese firms is collaborating on an funding in one of many firm’s enterprise items in that nation.

Sony Semiconductor Options, Toyota, and former Toyota-owned auto components firm Denso are investing in a second semiconductor manufacturing facility for Japan Superior Semiconductor Manufacturing (JASM). The latter firm is majority-owned by Taiwan Semi. The general investments into JASM’s two factories, situated in Kumamoto Prefecture, ought to exceed $20 billion.

The proper of firm, in the precise place

In accordance with Taiwan Semi’s press launch on the Kumamoto property’s investments, they’ll take pleasure in “robust assist from the Japanese authorities.” Though it wasn’t solely clear what was meant by that, it is a signal that each large enterprise and excessive officialdom in Asia are in a position and keen to bolster the continent’s chipmaking king.

See also  Savings account interest rates are best in years, experts say. How to get a high yield.

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Eric Volkman has no place in any of the shares talked about. The Motley Idiot has positions in and recommends Taiwan Semiconductor Manufacturing. The Motley Idiot has a disclosure policy.

Why Taiwan Semiconductor Stock Raced Nearly 5% Higher Today was initially printed by The Motley Idiot

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TAGGED: Higher, Raced, semiconductor, stock, Taiwan, Today

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