Semiconductor stocks like Applied Materials, ASML Holding, and TSMC surged due to positive industry news.

From Nasdaq: 2024-06-05 13:36:52

Wednesday was a good day for semiconductor investors, with Applied Materials, ASML Holding, and TSMC shares rising on positive news from China and Taiwan. Applied Materials stock was up 4.9%, ASML 7.4%, and TSMC bounced back with a 6.9% gain.

Applied Materials received an upgrade from Barclays due to robust foreign orders for semiconductor manufacturing equipment in China. Analysts predict aggressive spending from semiconductor companies in the U.S., boosting Applied Materials and ASML stocks.

Barclays also raised its price target on TSMC to $170, highlighting demand for 2 nanometer chips. TSMC may raise prices on chip manufacturing contracts to compete with Nvidia’s profits from AI chips, making it a solid investment choice.

Consider investing in Taiwan Semiconductor Manufacturing for long-term growth potential. Motley Fool’s Stock Advisor service recommended other stocks for higher returns, but TSMC remains a strong choice according to historical performance and growth prospects.



Read more at Nasdaq: Why Applied Materials, ASML Holding, and Taiwan Semiconductor Stocks All Popped on Wednesday