TSM - Why Taiwan Semiconductor Manufacturing Stock Popped on Tuesday
2024-06-18 14:33:01 ET
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock was up 2.1% through 2 p.m. ET Tuesday. As hometown daily paper DigiTimes reported this morning, Intel has tapped TSMC to manufacture its new line of 3nm semiconductor chips for notebook computers.
What's more, production of the chips is already commencing.
This sounds like good news for Intel... and for TSMC. In a related story from May, DigiTimes noted that TSMC had already hit a 95% "utilization rate" for 3nm chip production, meaning that production capacity was just about maxed out. Intel may have been just in time to secure its contract to supply the 3nm chips it has designed.
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Why Taiwan Semiconductor Manufacturing Stock Popped on Tuesday