Taiwan Semiconductor April sales rise 60% y-o-y: should you buy the stock?

Group 1: Company Performance - Taiwan Semiconductor Manufacturing Company Limited (TSM) reported a revenue increase of 59.6% year-over-year, reaching NT$236.02 billion in April 2024, driven by demand from major clients like Apple, Nvidia, and AMD [1] - Despite previous caution from CEO C. C. Wei regarding the semiconductor market's growth in 2024, TSM remains optimistic about future expansion, particularly in the foundry sector due to rising AI semiconductor demand [1] - TSM announced a cash dividend of NT$4 per share for the first quarter of 2024, reflecting its commitment to shareholders [1] Group 2: Stock Performance and Technical Analysis - TSM's stock has faced volatility typical of the semiconductor industry, previously falling to $40 during the COVID bear market and rising above $140 by February 2021, but struggling to surpass the $145 mark [2] - The stock attempted to break the $145 barrier in January 2022 and reached a high of $158.4 earlier this year, but retreated shortly after; a sustained close above $145 for a week is necessary for a potential uptrend [5] - Currently, TSM's stock is trading within a $125-$145 range, which is being tested again [6]