TSMC Shares Surge on AI-Driven Momentum

The global leader in semiconductor manufacturing is experiencing a significant upward trend, fueled by growing enthusiasm across the artificial intelligence sector. This momentum follows Nvidia’s impressive quarterly earnings report, which propelled TSMC’s stock value higher during Asian trading sessions. The rally persists despite recent reports indicating substantial profit decline at the company’s US-based facility.

Market experts maintain a positive outlook on TSMC’s prospects. Bank of America has reaffirmed its “Buy” recommendation, maintaining a price target of $390 USD. Their analysis emphasizes TSMC’s commanding lead in 2-nanometer technology and advanced packaging solutions. Similarly, Wedbush Securities identifies the ongoing AI expansion as a continuing growth narrative for the semiconductor Read more...