Taiwan Semiconductor Manufacturing said its revenue for 2024 rose 34% amid a boom in demand for artificial-intelligence chips.
Taiwan Semiconductor Manufacturing Co. (TSM) posted fourth-quarter revenue that beat Wall Street estimates and a 34% jump in 2024 sales, as the company keeps gaining from the artificial intelligence (AI) boom.
The key supplier of advanced chips for the world's leading tech companies saw record revenue in the final quarter of 2023.
Taiwanese chip making giant TSMC said Friday its net sales rose by more than a third last year, beating its own forecast, as the company continued to benefit from soaring demand for AI technology.
Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, reported robust fourth-quarter revenue growth for 2024, reflecting the accelerating impact of artificial intelligence (AI) on the semiconductor market. Revenue surged by 34.4% year-on-year, reaching T$868.42 billion ($26.36 billion), surpassing market expectations.
Taiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates as the company continues to get a boost from the AI boom. TSMC manufacturers semiconductors for some of the world's biggest companies from Apple to Nvidia.
TSMC, the world's largest contract chipmaker, on Friday reported fourth-quarter revenue of T$868.42 billion ($26.36 billion), according to Reuters calculations, easily beating a market forecast, as the company reaps the benefit from artificial intelligence demand.
TSMC's dominant position in advanced semiconductor manufacturing and AI-driven demand create a compelling investment opportunity, justifying a Strong Buy rating. The company's technological leadership in advanced nodes (3nm, 5nm, 7nm) and strategic expansions ensure sustained growth and margin expansion. Big Tech's significant AI infrastructure investments, including Microsoft's $80 billion and Amazon's $22.6 billion, drive unprecedented semiconductor demand.
The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Nvidia gets most of the stock market fanfare in the semiconductor category. However, Taiwan Semiconductor (TSM) has also been a stellar performer.
TSM's 90% surge in 2024 highlights its dominance, but near-term challenges suggest holding the stock for now.
Taiwan Semiconductor Manufacturing (TSM 5.46%) stock has nearly tripled since I recommended it as a buy.