TSM - Why Is Nvidia Stock Trading Higher Friday? | Benzinga
Nvidia Corp (NASDAQ:NVDA) stock maintained its rally Friday along with peers Advanced Micro Devices, Inc (NASDAQ:AMD) as chief contract chipmaker Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) won the Street with its upbeat quarterly results and guidance.
The Taiwanese semiconductor manufacturer reported a revenue of $19.62 billion in the fourth quarter, a slight decrease of 1.5% compared to last year, yet surpassing the expected $19.45 billion Thursday. With earnings per share (EPS) at $1.44, it exceeded the anticipated $1.37.
For the fiscal year 2024, Taiwan Semi anticipates revenue growth ranging from low to mid-20%. The company has ...