TECH - What's Going On With Taiwan Semiconductor Manufacturing Stock Friday? | Benzinga
Key contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:TSM) stock continues to pique investor curiosity thanks to the artificial intelligence frenzy.
The key Nvidia Corp (NASDAQ:NVDA) supplier experienced a significant market value increase of approximately $42 billion.
In its first trading session following the Lunar New Year break, TSMC’s market capitalization reached a record $575 billion, making it the world’s 12th most valuable company, surpassing Visa Inc (NYSE:V). This surge followed Morgan Stanley’s decision to raise its price target for TSMC by about 9%, Bloomberg reports.
Also Read: TSMC Sets Sights on Japan for Next-Gen Chip Manufacturing, Boosting Global Tech Leadership
The company’s performance contributed to Taiwan’s benchmark index reaching an all-time high. Additionally, TSMC reported a 7.9% increase in January sales, signaling a potential uplift in ...