Where Will TSMC Stock Be in 1 Year?
Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, has been in fine form on the stock market of late as shares of the chip foundry giant have shot up 30% since early November 2022. That might seem a tad surprising given the turmoil in the broader market and concerns that semiconductor sales could decline in 2023.
Nonetheless, a closer look at TSMC's performance in recent quarters suggests that the stock's rally is well deserved. But will this semiconductor bellwether be able to sustain its rally over the next year? Let's find out.
TSMC enjoyed a terrific 2022 as the company's revenue increased at an impressive pace. It is yet to report its fourth-quarter 2022 results, but its revenue guidance of $20.3 billion would translate into a 30% year-over-year increase in the top line. What's more, the company expects to finish 2022 with a 54% year-over-year increase in fourth-quarter earnings to $1.77 per share.
Source Fool.com
