Major Apple supplier TSMC hits $1 trillion in market value
Major Apple supplier Taiwan Semiconductor Manufacturing Co. (TSMC) rose to a record intraday high and hit $1 trillion in market value in Taipei after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.
Jeanny Yu for Bloomberg News:
TSMC’s shares jumped as much as 4.5% in Taipei, extending its rally this year to more than 75%. Morgan Stanley raised its target on the stock by about 9%, expecting the chip maker to raise its full-year sales estimate in the earnings announcement next week. The broker also sees TSMC hiking wafer prices due to its strong bargaining power.
“TSMC’s ‘hunger marketing’ strategy seems to be working,” Morgan Stanley analysts including Charlie Chan wrote in a note Sunday. “Our latest supply chain checks indicate that TSMC is delivering a message that leading-edge foundry supply could be tight in 2025 and customers may not get sufficient capacity allocation without appreciating TSMC’s value.”
JPMorgan analysts including Gokul Hariharan also anticipate the company will raise its revenue guidance in the earnings call.
“We expect TSMC to sound more constructive on AI accelerator demand,” he wrote in a note Sunday.
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
MacDailyNews Take: A rising tide lifts all boats.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post Major Apple supplier TSMC hits $1 trillion in market value appeared first on MacDailyNews.
