Taiwan Semiconductor Surges Amid Chip Market Dominance and Bullish Analyst Outlook
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Taiwan Semiconductor Surges Amid Chip Market Dominance and Bullish Analyst Outlook
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About this listen
Discover why Taiwan Semiconductor Manufacturing Company (TSMC) continues its remarkable market performance with shares trading at $231.84, showing a 1.75% gain. This episode unpacks TSMC's impressive June revenue surge of 26.9% year-over-year, reaching $9.02 billion, and examines how the company has achieved 40% revenue growth in the first half of 2024 while dominating 67% of the global chip foundry market.
We analyze the recent technical indicators, including the significant daily trading volume of 9 million shares exceeding the 20-day moving average, and break down what major analysts are saying, from Barclays' $240 price target to Needham and Company's bullish $270 forecast. With TSMC's market cap now exceeding $1.2 trillion, making it one of the ten most valuable public companies worldwide, learn why this semiconductor giant remains a critical stock to watch despite potential currency challenges ahead of its upcoming earnings report.
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