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TSMC's Arizona chip factories have faced construction delays. But the company said it's "well on track" to start producing chips at its first factory in 2025.
Taiwan Semiconductor has sold off in recent weeks after a robust move higher. One analyst calls the chipmaker "one of the best AI pick-and-shovel stories.
The Taipei-listed shares of Taiwan Semiconductor Manufacturing Co (TSMC) dropped more than 4% after opening on Friday following the company's first-quarter earnings results.
TSMC's (TSM) 1Q adjusted EPS came in at $1.38 versus an estimated $1.29 and revenue came in at $18.87B versus an estimated $18.38B. George Tsilis and Matt Bryson give an overview of TSMC's earnings.
TSMC sees growth in the microchip industry slowing to 10%, it said in a post-earnings call. The dimmed outlook comes on slowdown expectations for automotive chips.
Taiwan Semi beat estimates on the top and bottom lines. The company's guidance beat estimates and called for accelerating revenue.
American depositary receipts (ADRs) of Taiwan Semiconductor Manufacturing Company (TSM) fell in intraday trading Thursday, after the chip maker's comments in an earnings call lowering projections for everything apart from artificial intelligence (AI)-related semiconductors offset higher-than-forecast results.
CNBC's Kristina Partsinevelos reports on news from TSMC.
Taiwan Semiconductor Mfg.
Wedbush analysts have reiterated their outperform rating on Taiwan Semiconductor Manufacturing Company following the premier global microchip manufacturer's latest earnings beat. Wedbush analysts wrote: “While TSMC's quarter had some puts and takes, we are viewing results through a constructive lens, given the positive commentary from TSMC regarding its outlook for artificial intelligence.