Chip Stocks Rally as TSMC Earnings Point To Strong AI Demand
TSMC(TSM) Investopedia·2024-10-17 16:05
Key TakeawaysChip stocks rose Thursday after the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co., reinvigorated Wall Street’s AI enthusiasm. Better-than-expected quarterly results and a rosy financial outlook powered its shares higher, along with a broader index of semiconductor stocks. Pockets of the industry are still grappling with an inventory glut that has persisted for more than a year amid sluggish consumer demand. Chip stocks rose Thursday after the world’s largest contra ...