What's Going On With Taiwan Semiconductor Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Taiwan Semiconductor Manufacturing Co (TSM) reported a significant month-on-month topline growth of 34.8% in October, with the strong dollar and Apple Inc's new product launch contributing to this growth. TSMC is also planning to build its second wafer fab in Japan, focusing on 6nm process manufacturing, with substantial financial commitment from the Japanese government. Nvidia Corp's CEO praised TSMC for its role in Nvidia's success at a recent event in Taipei.
November 10, 2023 | 2:13 pm
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POSITIVE IMPACT
Apple's new product launch has been cited as a contributing factor to TSMC's topline growth, which could reflect positively on Apple's sales.
Apple's contribution to TSMC's growth suggests successful product performance, which may positively impact AAPL's stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Nvidia's CEO praised TSMC's role in Nvidia's success, which could reinforce investor perception of Nvidia's strong supply chain and innovation.
The positive remarks from Nvidia's CEO about TSMC may boost investor confidence in Nvidia's supply chain reliability, potentially benefiting NVDA's stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
TSMC reported a 34.8% month-on-month topline growth and is planning a new fab in Japan, indicating strong performance and expansion.
The reported growth and expansion plans are likely to instill investor confidence and could lead to a short-term increase in TSM's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100