Record-Breaking Earnings Surpass Expectations

Taiwan Semiconductor Manufacturing Company (TSMC) witnessed a remarkable 4% surge in its US-based stocks this Thursday, following the announcement of its first-quarter earnings that exceeded analyst forecasts. The semiconductor behemoth reported a staggering 60.3% year-over-year increase in net profit, reaching $11.1 billion, against the anticipated $10.9 billion. This financial milestone is largely attributed to the soaring demand for artificial intelligence chips.

Steady Growth Amid Expansion

Despite its ambitious $100 billion investment in US operations last month, TSMC remains steadfast in its mid-20% growth forecast for the year, a target initially set in January. This expansion strategy has garnered praise from former President Donald Trump, especially in the context of his proposed 32% tariff on Taiwanese imports.

Stock Performance

At 4:24 am ET, TSMC's shares were trading at $158.80 each, marking a 4.70% increase. This uptick underscores the market's positive reception to TSMC's financial health and strategic direction.