Taiwanese chipmaker TSMC posted a 36% rise in second-quarter net profit on Thursday that beat market expectations as it rides a surge in demand for semiconductors used in artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co , the dominant producer of advanced chips used in artificial intelligence (AI) applications, is expected to report a 30% jump in second-quarter profit on Thursday thanks to soaring demand.
Wall Street thinks rising demand for artificial-intelligence chips will boost Taiwan Semiconductor Manufacturing.
Taiwan Semiconductor Manufacturing Co. Ltd. TSM is announcing its second-quarter earnings on Thursday.
The world's largest computer chipmaker, Taiwan Semi (NYSE: TSM ), is one of the top trending stocks today, and TSM stock is retreating 6.6% in early trading. Former President Donald Trump, who recently officially became the Republican nominee for president, said that Taiwan should pay the U.S. for defending the island.
Taiwan Semiconductor published impressive results as the semiconductor industry entered a cyclical rebound phase. Taiwan Semi manufactures microchips for several of the largest semiconductor and technology companies in the world.
Taiwan Semiconductor is a key partner for many big tech companies. Management is guiding for 15% to 20% annualized revenue growth over the next several years.
TSMC shares fell Wednesday, weighing on other chip stocks like Nvidia and AMD.
The U.S. Commerce Department said on Wednesday it planned to award Taiwan's GlobalWafers up to $400 million in government grants to significantly increase production of silicon wafers.
Donald Trump said he thinks Taiwan should pay the U.S. for defense claiming the country "doesn't give us anything." Trump appeared to link his comments to Taiwan's semiconductor industry which is one of the most advanced in the world saying it took "about 100%" of America's chip business.
Shares of contract chip manufacturer TSMC fell more than 2% on Wednesday after U.S. presidential candidate Donald Trump said Taiwan should pay for defence.
Taiwan Semiconductor (TSM) presents a solid investment opportunity ahead of second-quarter earnings on the back of strong fundamentals.