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3 Reasons to Buy TSMC Stock Besides 61% Q2 Profit Surge [Yahoo! Finance]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
TSMC is also expected to grow further for three main reasons. Let's examine those reasons and what makes TSMC stock a compelling buy now. On Thursday, TSMC reported that its net income surged 60.7% year over year to NT$398.27 billion in the second quarter, a record high and significantly higher than estimates. TSMC's revenues for the June quarter came in at NT$933.80 billion, up 38.7% year on year, and above projections. TSMC's second-quarter sales rose as demand for AI chips remained strong. The company's high-performance computing division, which includes AI and 5G applications, accounted for 60% of the second-quarter revenues. Strong demand for TSMC's progressive 3nm and 5nm node semiconductor chips also contributed to revenue growth. Banking on the growing demand for TSMC's advanced processors for clients, including NVIDIA Corporation NVDA and Apple Inc. AAPL, the company projected third-quarter revenues between $31.8 billion and $33.0 billion, up 38% year over year. For 202
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