TSMC shares soar; company updates Phoenix chip production

Article originally posted on Phoenix Business Journal on January 17, 2025

TSMC_Tool_In_Ceremony

Amid swirling geopolitical tensions with China, Taiwan Semiconductor Manufacturing Co. on Thursday said it reported record profits in the fourth quarter of 2024 and is already forecasting strong results for Q1 due to a surge in demand for chips used for artificial intelligence applications.

TSMC reported fourth quarter revenue of $26.88 billion, up 37% year-over-year and an increase of 14.4% from the previous quarter, ahead of analysts’ expectations. The company forecasts Q1 revenue will land between $25 billion and $25.8 billion.

The company’s shares, which are traded in the U.S. as depository receipts, roared out of the gate in trading on Thursday, almost reaching $222 before slipping back to close at $215.25, a 4% gain in heavier than usual trading.

BACK TO TOP FIVE