TSMC Just Posted Record Profit for the Sixth Straight Quarter. Why Did the Stock Fall?
Taiwan Semiconductor Manufacturing Corporation (NYSE:TSM) is one of the biggest companies in the world today and a linchpin in the global economy.
It’s also a bellwether for the semiconductor sector, as the world’s biggest chip manufacturer with a differentiated model as a pure-play contract manufacturer.
On Thursday, TSMC reported third-quarter earnings during a testy moment for the AI trade. AI stocks have tumbled this week amid concerns about rising interest rates, circular financing deals, and competition from China, among other concerns.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.