TSMC, World's Leading Semiconductor Manufacturer, Reports Impressive Revenue Figures for the First Months of 2024. Particularly noteworthy is the sharp increase in January and February, driven by the rising demand for artificial intelligence chips. According to a press release, the Taiwanese company was able to achieve a 9.4 percent increase in revenue compared to the previous year, totaling 397.43 billion New Taiwan dollars.
January was more successful than February. These news are well received at the stock exchange. The TSMC stock, listed on the NYSE, increased by 2.36 percent to 152.72 US dollars in pre-market trading on Friday. This surpasses the record high of 151.60 US dollars reached just the day before, and the stock also gained in the Taiwanese trade, ultimately closing with a gain of 3.16 percent at 784.00 New Taiwan dollars.
But not only investors are celebrating TSMC's success, analysts are also optimistic. According to the financial news agency "MarketWatch," the US banking giant Morgan Stanley has raised its forecasts for the company and given it an "Overweight" rating. The price target was increased to 850 New Taiwan dollars, and TSMC was named the "Top Pick" for growth in the artificial intelligence sector.
Charlie Chan, Bank Strategist, explains: "US investors see TSMC as a key player for participating in global AI growth and find the stock valuation for 2025 attractive." The high demand for AI solutions, which is only made possible by powerful chips, promises a bright future for TSMC. Chan emphasizes that artificial intelligence is no longer just a "positive trend," but an "obvious growth driver."
Conclusions, it thus appears clear that TSMC will benefit from the continuously increasing demand for AI solutions and that the company will continue to remain at the forefront of the semiconductor industry. With its outstanding revenue growth and positive outlook for the future, TSMC is undoubtedly an attractive investment for investors and a significant player in the global development of artificial intelligence.
