Apple, Nvidia Supplier TSMC Reports Strong Q2 Results Amid Booming Demand For AI Chips, Guides Q3 Above Consensus: 2024 To Be 'Strong Growth Year,' Says CEO
Portfolio Pulse from Shanthi Rexaline
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSMC) reported strong Q2 results with revenue and earnings growth above estimates, driven by high demand for AI chips. The company provided an optimistic Q3 guidance and expects 2024 to be a strong growth year. However, the stock faced a decline due to geopolitical concerns.
July 18, 2024 | 8:11 am
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TSMC reported strong Q2 results with revenue and earnings growth above estimates, driven by high demand for AI chips. The company provided an optimistic Q3 guidance and expects 2024 to be a strong growth year. However, the stock faced a decline due to geopolitical concerns.
TSMC's strong Q2 results and optimistic guidance for Q3 and 2024 indicate positive business momentum driven by AI chip demand. However, the stock's decline due to geopolitical concerns may create short-term volatility.
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