TSM - Why Taiwan Semiconductor Stock Popped on Wednesday
2024-07-10 12:23:47 ET
Shares of chipmaker Taiwan Semiconductor Manufacturing (NYSE: TSM) rose 2.3% through 10:45 a.m. ET on Wednesday. This morning in a filing with the Securities and Exchange Commission, TSMC reported that its June 2024 revenue fell 10% in comparison to May, but its sales year over year increased by nearly 33%.
And zooming out to a big-picture view, sales in the first half of 2024 are now up 28% in comparison to the first half of 2023.
That's great news for TSMC stock, and investors are rewarding it as such. The first six months of this year have seen it collect about $38.8 billion, meaning that the company has so far achieved about 46% of analyst's revenue forecasts for the full year.
For further details see:
Why Taiwan Semiconductor Stock Popped on Wednesday