Taiwan Semiconductor (TSMC) Posted Record Profit and the Stock Still Fell. Here’s What the Market Is Worried About.
TSMC (NYSE: TSM), the world’s top contract chipmaker, posted its third-quarter earnings on Oct. 15. Its revenue and net profit surged 50% and 69%, respectively, and set new record highs.
That also marked TSMC’s sixth consecutive quarter of record profits. However, TSMC’s stock slipped after that impressive report — and it’s still down 7% over the past month. Let’s see why TSMC’s stock didn’t soar higher, and if it’s worth buying in this choppy market.
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