TSMC On Cusp Of Topping $1 Trillion Valuation As Stock Jumps 8% In Premarket: What's Going On
Portfolio Pulse from Shanthi Rexaline
TSMC's stock surged 8% in premarket trading, driven by strong revenue and earnings growth, positioning it to potentially surpass a $1 trillion market cap. The company's revenue and earnings exceeded expectations due to high demand for advanced chips.
October 17, 2024 | 11:49 am
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TSMC's stock rose 8% in premarket trading due to strong revenue and earnings growth, driven by high demand for advanced chips. The company is on track to potentially surpass a $1 trillion market cap.
TSMC reported a significant increase in revenue and earnings, exceeding both its own guidance and market expectations. This strong performance, driven by demand for advanced chips, has led to an 8% rise in its stock price in premarket trading. The positive sentiment could push TSMC's market cap past $1 trillion, indicating a likely upward trend in the short term.
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