TSMC hits record high, surging 13% on profit growth - Breaking The News

TSMC hits record high, surging 13% on profit growth

17 October

1 min read

EPA-EFE/DAVID CHANG

Taiwan Semiconductor Manufacturing Co, a key supplier to Apple and Nvidia, saw its shares jump more than 13% on Thursday.

The stock's surge came after TSMC reported significant profit growth, fueled by rising demand for its advanced chips used in artificial intelligence and smartphones. The move has also boosted the chip sector in the US markets, with Nvidia, Micron, and AMD growing between 2% and 3%.

By 11:00 am ET, TSMC's shares were up 13.06%, trading at $211.97 in New York.

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