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Technology stocks, specifically chipmakers, could lead from the front on Thursday as a stellar third-quarter earnings report from Taiwan Semiconductor Manufacturing Company Ltd. TSMC is triggering positive sentiment toward all artificial intelligence plays.
U.S. chip stocks rose before the bell on Thursday after industry bellwether TSMC's strong sales forecast fanned investor optimism about demand for processors used to power artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co. boosted its target for 2024 revenue growth after quarterly results beat estimates, as the chipmaker now expects sales to climb roughly 30% in US dollar terms this year, up from previous projections for about a mid-20% rise. Tom Mackenzie reports on Bloomberg Television.
A look at the day ahead in U.S. and global markets from Mike Dolan
Taiwan Semiconductor Manufacturing Company just reported a 54% rise in third-quarter net profit. TSMC's growth was driven by strong demand for artificial intelligence technology.
Taiwan Semiconductor Manufacturing Co said its sales were boosted by strong demand from smartphone makers and artificial intelligence firms
Taiwan Semiconductor Manufacturing Co. (TSMC), a key supplier to Nvidia and Apple, posted a 54% increase in Q3 net profit, surpassing expectations as surging demand for artificial intelligence (AI) chips offset weakness in the mobile industry. The chip giant reported net profit for the September quarter of NT$325.3 billion ($10.
TSMC, the world's largest producer of advanced chips, posted a 54% hike in third-quarter profit.
TSMC posted a better-than-projected 54% rise in quarterly earnings. The company reported September-quarter net profit of NT$325.3 billion ($10.1 billion), versus an average estimate for NT$299.3 billion.
Taiwanese chipmaker TSMC posted a 54% rise in third-quarter net profit on Thursday that beat market expectations as it continues to reap the rewards of surging demand for semiconductors used in artificial intelligence applications.