What's Going On With TSMC Stock?
Portfolio Pulse from Erica Kollmann
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) shares are trading higher after Susquehanna maintained a Positive rating and raised its price target from $180 to $200. TSMC plans to increase the price of its 3nm wafers and advanced packaging next year. Major clients like Apple and Nvidia have reserved all production capacity until 2026. TSMC hit a new 52-week high of $178.33 and is trading above its 50-day moving average.
June 17, 2024 | 5:28 pm
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TSMC shares are trading higher after Susquehanna maintained a Positive rating and raised its price target from $180 to $200. TSMC plans to increase the price of its 3nm wafers and advanced packaging next year. Major clients like Apple and Nvidia have reserved all production capacity until 2026. TSMC hit a new 52-week high of $178.33 and is trading above its 50-day moving average.
The positive rating and increased price target from Susquehanna, along with TSMC's plans to raise prices and secure major clients until 2026, are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100