TECH - Key Apple Supplier TSMC Follows Nvidia Footsteps To Join The Trillion-Dollar Club | Benzinga
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM), a key chip supplier of Apple and Nvidia Corp. is on the brink of becoming a member of the trillion-dollar club, propelled by the rising demand for AI-related products and potential price increases.
What Happened: TSMC’s market capitalization is nearing the $1 trillion mark, fueled by a stock rally. A number of Wall Street brokerages, including Goldman Sachs Group Inc., JPMorgan Chase & Co., Citigroup Inc. and Morgan Stanley have raised their price targets for TSMC this week, Bloomberg reported on Friday.
Goldman Sachs has been the most bullish, increasing its price target by 19% to NT$1,160 ($35.81) in anticipation of a rise in three- ...