Why Taiwan Semiconductor Manufacturing Stock Jumped Today
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) (TSMC) rose on Wednesday, finishing the day up 4%. The jump comes as the S 500 gained 0.4% and the Nasdaq Composite gained 0.9%.
The semiconductor giant's stock got a boost after an analyst raised his price target on the stock.
Charles Shi, an analyst at Needham, reiterated his buy rating on Tuesday on TSMC's stock, raising his price target from $225 to $270. The analyst believes the company's AI revenue will continue to explode, rising from $26 billion this year to $46 billion in 2027.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
€322.00
2.540%
The stock is one of the favorites of our community with 28 Buy predictions and 1 Sell predictions.
On the other hand, the target price of 304 € is below the current price of 322.0 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR, so the potential is actually -5.59%.
