Investors started to look for the stocks of technology companies such as Nvidia, Oracle and TSMC after the demand for chip and storage products used in the development of artificial intelligence increased.
Taiwan Semiconductor Manufacturing Co. has reached a market capitalization of $500 billion again as investors expect an increase in artificial intelligence studies.
Taiwan-based TSMC gained more than 3 percent on Tuesday, amid hopes that the post-Kovid-19 chip crisis is coming to an end. Thus, the company’s earnings in 2023 rose to 32 percent. With the latest developments, Asia’s most valuable company has consolidated its position among the 10 most valuable companies in the world.
In a note on TSMC this week, Morgan Stanley raised the company’s price target, citing growing demand for energy-efficient and low-cost AI custom chip designs. “Given its technology leadership, we see TSMC as a key supplier of future AI products,” the analysts said in the note. used the phrases.
On the other hand, while citing its own potential role in the launch of artificial intelligence, TSMC said it was cautious about the outlook for the smartphone market, which still accounts for a significant portion of its revenue. The company’s monthly revenue fell in May after consumers and companies cut their electronics spending.