"Shares of Taiwan Semiconductor Manufacturing Co. Ltd. ( NYSE: TSM), AKA TSMC, just hit an all-time high of $286.00. The company announced its second-highest monthly sales ever in August due to sustained high demand for its advanced chips. The stock is up 4.5% in the past week. The share price is 27.5% higher than 90 days ago and 54.3% higher year over year, outperforming the Nasdaq in both timeframes."
"TSMC says it is actively diversifying its global footprint, although it declined an invitation from India to set up a plant there. Due to efforts to bolster U.S. domestic chip production and reduce reliance on overseas supply chains, TSMC said it plans to drastically increase its investment in U.S. semiconductor manufacturing, including new fabrication plants and advanced packaging facilities in Arizona."
TSMC reached an all-time high share price of $286 after recording its second-highest monthly sales in August driven by sustained demand for advanced chips. The stock gained 4.5% in the past week, 27.5% over 90 days, and 54.3% year over year, outperforming the Nasdaq. TSMC is actively diversifying its global footprint, declined an invitation from India, and plans to drastically increase U.S. investments including new fabrication plants and advanced packaging facilities in Arizona. The company is expanding in Japan and considering a UAE fabrication plant. Market valuation surpassed $1 trillion in July and Wall Street remains optimistic.
Read at 24/7 Wall St.
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