A rotation out of the biggest winners of the recent rally gathered momentum this week, sending chip stocks toward their steepest weekly decline in more than a year and sparking fresh concerns about the sustainability of the AI-driven surge.
Asian stocks opened lower on Friday as the global retreat from semiconductor shares gathered pace, leaving the region's chip-heavy markets exposed to another round of selling. Japan's Nikkei 225 slid 2.8%, while MSCI's gauge of Asia-Pacific shares outside Japan edged 0.1% lower.
Taiwan Semiconductor Manufacturing Co. is supercharging an already massive U.S. investment spree – pledging an additional $100 billion to meet surging AI demand. TSMC Chairman and Chief Executive C.C.
Shares of Taiwan Semiconductor Manufacturing Co. (TSMC) declined in US trading on Thursday despite the company posting record second-quarter earnings and raising its long-term investment plans. The decline suggests investors may be focused on higher capital spending and the potential impact of US manufacturing expansion on margins.
The chips are down today.
Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) posted a 77% jump in second-quarter net profit and raised its capital spending forecast for the year, as the world's largest contract chipmaker rides sustained demand for AI processors. Net profit came in at $22.36 billion for the quarter, well above analyst estimates of $19.74 billion, on revenue of $40.2 billion, up 33.7% from a year earl...
Memory chip and storage stocks fell sharply on Thursday as investors extended a broad semiconductor selloff following Taiwan Semiconductor Manufacturing Co.'s quarterly results, despite the world's largest contract chipmaker posting record earnings. TSMC reported its fifth consecutive quarter of record profit, beating analyst expectations.