Nvidia, Apple Supplier TSMC Stock Surges In Pre-Market After Morgan Stanley Raises Price Target Ahead Of Earnings
Portfolio Pulse from Benzinga Neuro
Taiwan Semiconductor Manufacturing Co. (TSMC) saw a pre-market boost after Morgan Stanley raised its price target ahead of TSMC's earnings report. TSMC's shares increased by 3.77% in the U.S. and 4.5% in Taipei. Analysts expect TSMC to raise its full-year sales forecast and increase wafer prices due to strong demand for AI applications.
July 08, 2024 | 10:20 am
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POSITIVE IMPACT
TSMC's positive outlook and expected growth in AI applications could benefit Apple, a key customer. Increased wafer prices may impact Apple's supply chain costs.
As a major customer of TSMC, Apple's supply chain could benefit from TSMC's growth in AI applications. However, increased wafer prices may lead to higher costs for Apple.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Nvidia, another key customer of TSMC, could see benefits from TSMC's strong AI demand and growth outlook. However, increased wafer prices may affect Nvidia's cost structure.
Nvidia, as a significant customer of TSMC, stands to gain from TSMC's expansion in AI applications. However, the potential increase in wafer prices could impact Nvidia's cost structure.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
TSMC's stock surged in pre-market trading after Morgan Stanley raised its price target, anticipating higher full-year sales and increased wafer prices. Analysts expect strong demand for AI applications to drive growth.
Morgan Stanley's price target increase and positive earnings expectations are likely to boost investor confidence in TSMC. The anticipated rise in sales forecast and wafer prices, driven by strong AI demand, further supports a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100