TECH - What's Going On With Taiwan Semiconductor Stock On Monday? | Benzinga
Taiwan Semiconductor Manufacturing Co (NYSE:TSM) CEO C.C. Wei will assume the role of chairman, succeeding Mark Liu, who is retiring. Wei has led TSMC since 2018, navigating significant growth and challenges. Under Wei’s leadership, TSMC’s market value nearly tripled, and revenue and net profit more than doubled.
The company has invested heavily in R&D and capital expenditure, tripling its spending to maintain its edge against competitors like Intel Corp (NASDAQ:INTC) and Samsung Electronics Co, the Nikkei Asia reports.
The stock is trading higher Monday after the broader sector noted a selloff following the U.S. government’s AI chip ...