TSMC Stock Rises on Earnings. It’s Good News for Intel and Other Chip Stocks.

Taiwan Semiconductor Manufacturing lifted some of the gloom around the chip sector on Thursday with an earnings beat. The world’s largest contract chip manufacturer gave an upbeat outlook heading into 2024 which could be good for Intel and other semiconductor makers.

TSMC dominates the market for high-end chips. It makes the main processors inside Apple iPhones, Qualcomm mobile chipsets, and processors made by Advanced Micro Devices .

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