The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Taiwan Semiconductor Manufacturing (NYSE:TSM) is a chip stock many long-term investors have done well owning.
China's Taiwan Affairs Office said on Wednesday that a U.S. order to Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers undermines the interests of Taiwanese companies and raises tension across the Taiwan Strait.
TSM has delivered good results in the recent quarter and is showing strong tailwinds in key metrics. TSM's Arizona plant yield has surpassed that of comparable facilities in Taiwan, which can lead to greater support from the U.S. government. Intel is being bogged down by company-specific issues and has postponed or canceled several semiconductor plants.
The U.S. government said the company's AI chips can't go to China.
TSM stock fell Monday after the U.S. ordered Taiwan Semiconductor Manufacturing to halt shipments of advanced chips to China. The post Taiwan Chip Giant Curbs Sales Of Advanced Chips To China appeared first on Investor's Business Daily.
A report stating that TSMC (TSM) was ordered by the U.S. to halt A.I. chip exports to China sent shares falling.
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The latest effort to curb exports of critical technologies comes after reports that a TSMC product was found inside a Huawei AI chip.
The United States has directed Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) to stop shipping certain advanced chips to Chinese clients, effective Monday, according to a Reuters exclusive. The US Department of Commerce informed TSMC that export restrictions apply to chips of 7-nanometer or more advanced designs often used in artificial intelligence and graphics processing units.
China's semiconductor index leapt close to a three-year high on Monday on bets a U.S. order halting Taiwan Semiconductor Manufacturing Co's shipments of advanced chips to Chinese customers could accelerate Beijing's self-reliance efforts.
After a chip manufactured by Taiwan Semiconductor Manufacturing Company was found inside a Huawei processor, the US Department of Commerce has ordered the company to halt shipments of advanced chips to Chinese customers, according to a report in Reuters.