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Taiwan Semiconductor Manufacturing Co , the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 42% leap in third-quarter profit on Thursday thanks to soaring demand.
TSMC;s earnings are a bellwether for the entire chip sector but it will be AI chips which are in focus and particularly how quickly it can ramp up production for Nvidia's Blackwell processors.
With its advanced technologies and chip manufacturing capabilities, TSM is well-positioned for strong Q3 earnings growth amid rising investments in AI.
Taiwan Semiconductor's revenue is growing above projected rates.
Taiwan Semiconductor (TSM) is experiencing solid demand for its advanced technologies from giant AI names like NVDA, AMD, AAPL, AVGO, INTC.
Some big-name semiconductor stocks are due to report their latest quarterly earnings results this week.
TSM's strong September net sales and robust AI demand from Nvidia and Apple suggest a promising Q3 earnings report on October 17, 2024. TSM's net sales in Q3 totaled NT$759.7 billion, surpassing the high-end guidance and reflecting a 39.6% YoY growth in September. With a profit multiple of 28.2x and strong AI-driven growth, TSM presents a compelling long-term investment opportunity.
Taiwan Semiconductor Manufacturing Co , the main producer of advanced chips used in artificial intelligence applications, is expected to report a 40% leap in third-quarter profit on Thursday thanks to soaring demand.
This AI stock has delivered impressive gains in 2024, and it could pop higher following its upcoming quarterly report.
TSM is the cheapest generative AI play as one of the trifecta of AI godfathers along with NVDA and ASML, attributed to the FWD PEG non-GAAP ratio of 1.06x. With the foundry already reporting robust preliminary FQ3'24 sales results, we believe that it is well positioned to report a double beat and raise performance in October 17, 2024. With SSNLF already losing market share and INTC unable to produce viable 18A chips, it goes without saying that TSM is likely to remain the clear market leader moving forward.