TSMC stock hits new high after posting forecast-beating earnings

TAIPEI - Taipei-listed shares in TSMC hit a record high on Friday after the chipmaker posted forecast-beating third-quarter earnings and predicted a rosy outlook on strong artificial intelligence demand.

The company, however, appeared to face some political uncertainty after U.S. media outlet The Information said the U.S. Department of Commerce is probing whether TSMC has been making AI or smartphone chips for China's Huawei, whose access to non-Chinese chips has been severely curtailed due to U.S. export controls.

On its earnings call on Thursday, Taiwan Semiconductor Manufacturing Co reported a forecast-beating 54% jump in quarterly profit, raised its revenue forecast for the year and said the next five years would also be "healthy" for the firm.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

TSMC earnings lift chip stocks, Robinhood CEO on new tools: Morning BriefThe tech sector is getting a boost higher Thursday morning after Taiwan Semiconductor Manufacturing Company (TSM) topped third quarter earnings results and...
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »

Premarket: U.S. futures rise as chip stocks rally after TSMC results; economic data in focusEuropean stocks gain, euro weak ahead of ECB, ‘Trump trade’ lifts U.S. dollar
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »