Why Taiwan Semiconductor Manufacturing Was Rising Today
Shares of foundry giant and new Warren Buffett holding Taiwan Semiconductor Manufacturing Corporation (NYSE: TSM) were rising today, up as much as 4% before settling in to an above-market 2.8% gain as of 2:38 p.m. EST.
There wasn't much company-specific news today; however, a key executive departure at rival Intel (NASDAQ: INTC) may indicate Intel's ambitious plans to catch up with TSMC in leading-edge production may have hit a setback. Intel's loss would could be TSMC's gain.
Last night, Intel announced that Randhir Thakur, the executive who was leading Intel's plan to establish itself as a leading foundry for other semiconductor designers, was leaving the company. In an emailed statement to Bloomberg, Intel said Thakur "has decided to step down from his position to pursue opportunities outside the company."
Source Fool.com
