TSMC’s position as the sole supplier of critical chips to Apple Inc. and Nvidia Corp. making it a favorite among global AI investors.
Market capitalization of Taiwan Semiconductor Manufacturing Co. briefly topped a trillion dollars after Morgan Stanley joined the list of brokers raising their price targets on the company in its report. Bloomberg writes about it.
TSMC shares jumped 4.8% after the stock market opened, giving the company’s stock price growth of more than 80% in 2024.
The Taiwanese chipmaker overtakes Berkshire Hathaway Inc. in June. and became the eighth most valuable company in the world.
TSMC’s position as the sole supplier of critical chips to Apple Inc. and Nvidia Corp. making it a favorite among global AI investors.
It is noted that the shares of these companies with a capital of three trillion dollars have grown in the context of the development of artificial intelligence.
Even as tensions rise over the Taiwan Strait, many Wall Street brokers have raised their price targets on TSMC, citing rising demand linked to artificial intelligence and a potential price hike in 2025 that would boost the earnings.
Recall that the largest single industry independent semiconductor manufacturing company TSMC, located in Taiwan, approved the investment of 3.5 billion euros in the construction of its first plant in Europe.
It was previously reported that the United States plans to spin off Taiwan Semiconductor Manufacturing Co. (TSMC) $6.6 billion in grants and up to five billion dollars in loans to build another plant in Arizona.
Source: korrespondent
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