Taiwan semiconductor manufacturing company (TSMC) Has reclaimed a spot in the list of the world’s 10 most valuable companies, riding the optimism of the Artificial Intelligence (AI) Boom in the Tech Industry That pushed its stock to record levels.
According to a report by bloomberg, TSMC’s Stock Rallied 14% Last Week, Elevating the chipmaker‘S Market Capitalization to a record, before a 2% decline in early trading on monday (March 11), Pared it to $ 634 billion.
However, the decline from Didn’T impact the company Much as it still has a market share higher than that of BroadcomThe report noted.
What analysts have to say
Analysts from Morgan Stanley and JPMORGAN Chase & Co. Expect the semiconductor giant – that has Apple, Nvidia and Qualcomm As Its Customers-to Advance Further AMID Surging Ai-Revenue and Strong Pricing Power.
“Generative Ai Semi is an obvious growth driver for tsmc,” Morgan Stanley Analysts Including Charlie Chan Wrote in a Note Last Week. The company’s overseas expansion also helps mitigate geopolitical concerns, they said.
TSMC’s Revenue Gained 9.4% in the first two months of 2024 as demand for high-end chips increase due to a wave of activity in ai.
Nvidia gets ‘AI Boost’
This is not the first time this year that a chip company has seen its stock on an upward spiral. This year, nvidia was amon the companies that get a boost by a frenzy Around generative ai.
In the last month, Nvidia stock price has a riskn over 20% whose last six months, it has risen over 90%. Moreover, in the last one year, Nvidia stock price has appreciated from $ 234.36 per share level to $ 875.28 per share mark – registered a 275% jump.
