TSMC reports 55% September revenue jump; chip shares slip
TSMC said September revenue rose 55% to NT$511.9 billion ($16 billion), lifting Q3 total revenue to NT$1.49 trillion. Despite the AI-related strength, major chip stocks were down in early trading.
By Callum Keown The artificial-intelligence trade just got a pretty strong signal that the good times can keep going. But tech stocks were falling anyway early Thursday. Higher oil prices and elevated Treasury yields were preoccupying investors instead, and perhaps understandably so. However, chip maker Taiwan Semiconductor Manufacturing's bumper revenue shouldn't be ignored -- and neither should memory-chip giant Samsung's ninefold increase in profit.
Demand for AI chips is relentless. 9 billion New Taiwan dollars ($16 billion) in September. 46 trillion, according to FactSet data. 6% from August.
5% in early trading. S. tech stocks were not taking their cue from TSMC or Samsung, though, but from higher oil prices and elevated bond yields. 4% and Intel slipped 2%.
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