Why Taiwan Semiconductor Stock Is Jumping This Week
Taiwan Semiconductor Manufacturing (NYSE: TSM) is making big gains again this week. The chip fabrication leader's share price had climbed 14.5% from last week's market close as of 11:15 a.m. ET this Friday, according to data from S&P Global Market Intelligence.
While there wasn't any business-specific news pushing TSMC stock higher this week, the semiconductor manufacturing specialist's valuation is getting a boost from an overall industry backdrop that continues to look increasingly favorable. In particular, TSMC's share price is climbing in conjunction with the blockbuster earnings results and guidance issued by Arm Holdings this week.
Arm is a leading designer of architecture for central processing units (CPUs) used in mobile devices, computers, and other hardware. Meanwhile, TSMC is the world's leading manufacturer of third-party semiconductor designs. Strong results and growth forecasts from Arm generally bode well for TSMC -- and they're pushing the Taiwan-based company's share price higher this week.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
With 17 Buy predictions and not the single Sell prediction the community is currently very high on Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
As a result the target price of 150 € shows a slightly positive potential of 18.67% compared to the current price of 126.4 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
