Taiwan Semiconductor Manufacturing Company (TSMC) regained its place in the list of the world’s 10 most valuable companies and brought optimism in the market. artificial intelligence (AI) industry boom technology industry This pushed its shares to record levels.
According to a report by Bloomberg, TSMC’s shares rose 14% last week. chip makerThe company’s market capitalization reached a record low of $634 billion before a 2 percent decline in early trading on Monday, March 11.
However, this decline did not affect the company much because its market share is still higher than before. broadcomThe report noted the following:
What analysts say
Analysts from Morgan Stanley and JPMorgan Chase & Co. say the semiconductor giant Apple, Nvidia And Qualcomm as their customers to further advance in an environment of growing AI-related revenue and strong pricing power.
“Generative AI quasi is an obvious growth driver for TSMC,” Morgan Stanley analysts including Charlie Chan wrote in a note last week. The company’s overseas expansion also helps ease geopolitical concerns, they said.
TSMC’s revenue rose 9.4% in the first two months of 2024 as demand for high-end chips increased due to a wave of activity in AI.
Nvidia gets ‘AI boost’
This isn’t the first time this year that shares of a chip company have soared. This year, Nvidia was among the companies riding on the prolific AI craze.
Nvidia stock price is up over 20% in the last month and over 90% in the last six months. Moreover, in the last year, Nvidia stock price has increased by 275%, from $234.36 per share to $875.28 per share.
According to a report by Bloomberg, TSMC’s shares rose 14% last week. chip makerThe company’s market capitalization reached a record low of $634 billion before a 2 percent decline in early trading on Monday, March 11.
However, this decline did not affect the company much because its market share is still higher than before. broadcomThe report noted the following:
What analysts say
Analysts from Morgan Stanley and JPMorgan Chase & Co. say the semiconductor giant Apple, Nvidia And Qualcomm as their customers to further advance in an environment of growing AI-related revenue and strong pricing power.
“Generative AI quasi is an obvious growth driver for TSMC,” Morgan Stanley analysts including Charlie Chan wrote in a note last week. The company’s overseas expansion also helps ease geopolitical concerns, they said.
TSMC’s revenue rose 9.4% in the first two months of 2024 as demand for high-end chips increased due to a wave of activity in AI.
Nvidia gets ‘AI boost’
This isn’t the first time this year that shares of a chip company have soared. This year, Nvidia was among the companies riding on the prolific AI craze.
Nvidia stock price is up over 20% in the last month and over 90% in the last six months. Moreover, in the last year, Nvidia stock price has increased by 275%, from $234.36 per share to $875.28 per share.
