Why Shares in Taiwan Semiconductor Rose, Again, Today

Shares in Taiwan Semiconductor Manufacturing (TSM 3.14%) were up almost 4% by midday Wednesday. The move follows the company's excellent fourth-quarter earnings released last Tuesday. As is often the case, the company's positive outlook led to Wall Street analyst upgrades.Management's outlook called for full-year 2024 revenue to increase by a low to mid-20% range in U.S. dollar terms as the industry experiences a cyclical bounce driven by artificial intelligence (AI) demand.Industry bodies and peers confirm ...