Taiwan Semiconductor Manufacturing Company (TSMC) announced a remarkable 11.3% year-over-year revenue surge in February 2024, reaching a total of around NT$181.65 billion. However, this growth was overshadowed by a 15.8% decrease in revenues compared to January 2024. For the first two months of 2024, TSMC’s revenue stood at NT$397.43 billion, showing a solid 9.4% increase from the previous year.
As TSMC continues to expand globally, the company is facing water scarcity challenges, a common issue among semiconductor firms embracing advanced processing technologies. TSMC recently inaugurated a new chip facility in Japan and made a hefty $40 billion investment in Arizona, U.S., to cater to the surging semiconductor demand in the American market.
In response to these strategic moves, TSMC’s stock price has soared by more than 5%, with shares trading at $156.86 as of March 8, 2024. This notable market reaction underscores investor confidence in TSMC’s growth prospects and expansion strategies in the ever-evolving semiconductor industry.
TSM Stock Surges on Strong Performance and Investor Confidence
On March 8, 2024, Taiwan Semiconductor Manufacturing Company (TSM) experienced a significant increase in its stock performance. According to data from CNN Money, TSM is currently trading near the top of its 52-week range and above its 200-day simple moving average, indicating strong price momentum.
The price of TSM shares saw a notable increase of $7.73 since the market last closed, representing a 5.18% rise in value. The stock opened at $153.91, which was $4.71 higher than its previous close. This opening price suggests that there was strong demand for TSM shares at the start of the trading day.
TSM is a leading semiconductor manufacturer known for its cutting-edge technology and innovation. The company’s stock performance on March 8 reflects positive investor sentiment and confidence in TSM’s future growth prospects. The increase in stock price and trading volume indicate that investors are optimistic about the company’s financial performance and market position.
Taiwan Semiconductor Manufacturing Company (TSM) Financial Results: Revenue Decrease but Fourth Quarter Shows Growth
On March 8, 2024, investors closely watched the performance of Taiwan Semiconductor Manufacturing Company (TSM) stock as the company released its financial results for the past year and the fourth quarter. According to data from CNN Money, TSM reported total revenue of $69.35 billion for the past year, which was a decrease of 8.67% compared to the previous year. However, total revenue for the fourth quarter stood at $19.64 billion, showing an increase of 13.84% since the previous quarter.
In terms of net income, TSM reported a figure of $26.90 billion for the past year, marking a decrease of 21.11% compared to the previous year. However, net income for the fourth quarter was $7.49 billion, showing an increase of 12.57% since the previous quarter.
Earnings per share (EPS) for TSM were reported at $5.19 for the past year, which was a decrease of 21.11% compared to the previous year. EPS for the fourth quarter remained flat at $1.44.
Overall, TSM’s financial performance showed mixed results with a decrease in total revenue and net income compared to the previous year, but an increase in both metrics compared to the previous quarter. The flat EPS for the fourth quarter may have disappointed some investors who were expecting growth in this key metric.
Investors will be closely monitoring TSM’s future performance and any updates from the company regarding its business outlook and strategy. The semiconductor industry is known for its cyclical nature, so fluctuations in financial results are not uncommon. It will be interesting to see how TSM navigates the challenges and opportunities in the market in the coming months.
