TSMC (NYSE:TSM) Now One of World’s Top-10 Stocks - Android Tricks 4 All
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Monday, July 27, 2020

TSMC (NYSE:TSM) Now One of World’s Top-10 Stocks

The recent rally of Taiwan Semiconductor Manufacturing Company (TSMC)NYSE:TSM,TPE:2330 stock has added $72 billion to the company's value putting its net worth at $410 billion — shooting its valuation past the likes of Visa NYSE:V and putting it just behind Berkshire Hathaway NYSE:BRK.A.

After its US-listed ADR shares rose 12.65% to a record $83.25 during the US trading day, TSMC hit 466.5 NTD within the first 10 minutes of trading in Taipei. As the TAIEX exchange has a circuit breaker, halting trading after a stock gains or loses 10% in a day, trading was halted and shares retreated during the mid-morning session.

Because of TSMC weighting on the TAIEX, where it makes up nearly 25% of the exchange, the market index hit new historical highs of 13,000. The TAIEX finished 2019 as the world's best-performing markets, and with TSMC's recent gains, has well-past its all-time high of 12,495, which it hit in February 1990.

United Microelectronics TPE:2303, another one of Taiwan's pure-play foundries, and one of TSMC's smaller rivals also benefited from the rally hitting its maximum 10% in gains for 12-year high of 23.85 NTD by mid-morning in Taipei.

TSMC's rally comes as Intel NASDAQ:INTC reports some of its "worst earnings ever" and a delay in its 7nm process node — key for remaining competitive against AMD NASDAQ:AMD — meant a near-universal downgrade by analysts. Intel has already started booking orders at TSMC in order to secure coveted capacity on its fabs.

One report from China Times, based in Taipei, Intel has already inked a deal with TSMC to expand capacity. The report also says that AMD NASDAQ:AMD is set to become TSMC’s largest customer next year on the 7nm node, with reported orders of 200,000 wafers, because of Apple's NASDAQ:APPL move to 5nm. In addition, it's also been reported that AMD and Intel have been battling out for whatever capacity they can get in light of TSMC cancelling Huawei's contract.

The post TSMC (NYSE:TSM) Now One of World’s Top-10 Stocks by Sam Reynolds appeared first on Wccftech.



source https://wccftech.com/tsmc-nysetsm-now-one-of-worlds-top-10-companies/
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