TSMC hits record high and joins trillion dollar club due to AI demand surge

From Investing.com: 2024-07-11 01:45:35

Taiwan’s TSMC hits record high after strong second-quarter revenue showing booming demand for AI applications, solidifying its position as Asia’s most valuable company. TSMC also achieves trillion dollar market value this week. The AI frenzy drives chipmaker stock rally globally, with TSMC reaping benefits from increasing demand for AI-capable chips, attracting $4.8 billion foreign investments into Taiwan stock market.

Shares of TSMC surge nearly 80% in 2025, outperforming Taiwan SE Weighted Index by a wide margin. TSMC’s market value hits record T$28 trillion, making it Asia’s most valuable publicly listed company. TSMC’s ADRs also reach record high, temporarily pushing market value to $1 trillion, due to be fully reported on July 18.

Nvidia, Microsoft, and Apple see remarkable market value gains above $3 trillion. TSMC’s strong performance contributes to the rise of global chip stocks, with Philadelphia semiconductor index reaching record high. Analysts are optimistic about TSMC’s future earnings potential and market value appreciation in 2025 due to increasing demand for AI-related products.



Read more at Investing.com: AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club By Reuters