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Why Taiwan Semiconductor Manufacturing Stock Dropped Today

TheMotleyFool

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Why Taiwan Semiconductor Manufacturing Stock Dropped TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) -- the most valuable semiconductor company in the world -- became just the tiniest bit less valuable on Tuesday, as the stock shed 2.1% through 10:55 a.m. ET.

And curiously, the stock's slide this morning appears to be in response to good news, not bad.

This morning, TSM announced that it will more than triple its planned investment in semiconductor manufacturing in Arizona. In addition to its initial factory (or fab) already under construction and expected to begin operations in 2024, the company will build a second fab with a targeted 2026 start date.

Source Fool.com

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