Why Taiwan Semiconductor Stock Popped on Wednesday
Shares of chipmaker Taiwan Semiconductor Manufacturing (NYSE: TSM) rose 2.3% through 10:45 a.m. ET on Wednesday. This morning in a filing with the Securities and Exchange Commission, TSMC reported that its June 2024 revenue fell 10% in comparison to May, but its sales year over year increased by nearly 33%.
And zooming out to a big-picture view, sales in the first half of 2024 are now up 28% in comparison to the first half of 2023.
That's great news for TSMC stock, and investors are rewarding it as such. The first six months of this year have seen it collect about $38.8 billion, meaning that the company has so far achieved about 46% of analyst's revenue forecasts for the full year.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
€362.50
0.280%
With 28 Buy predictions and 2 Sell predictions Taiwan Semiconductor Manufacturing Co. Ltd. ADR is one of the favorites of our community.
As a result the target price of 400 € shows a slightly positive potential of 10.34% compared to the current price of 362.5 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
