2024-01-18 13:31:26 ET
Shares of Taiwan Semiconductor (NYSE: TSM) were surging today after the company delighted investors with its fourth-quarter earnings report, forecasting a return to revenue growth in the first quarter after a cyclical slowdown in the semiconductor sector .
While the results in the fourth quarter itself were relatively weak, it still beat estimates, and guidance was strong enough to give TSMC (as it's also known) a boost and propel many of its chip-designing customers higher, including Intel , AMD , Broadcom , and Nvidia.
As of 11:28 a.m. ET on Thursday, shares of TSMC were up 8.1% on the news.
For further details see:
Why Taiwan Semiconductor Stock Popped Today