BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Investing.com -- Taiwan Semiconductor Manufacturing Co. reported a 26% growth in July sales, showing strong momentum in artificial intelligence chip spending.
The chipmaker, which produces hardware for Nvidia Corp . (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) Inc., recorded sales of NT$323.2 billion ($10.8 billion) last month.
This growth aligns with analyst expectations of a 25% increase in the company’s third-quarter revenue.
TSMC has maintained robust growth this year despite facing challenges from a stronger Taiwanese dollar.
The company’s revenue is up 38% from January through July compared to the same period in 2024, as it works to meet high demand.
The company’s shares on the Taipei exchange reached a record high on Thursday following the Trump administration’s announcement of new chip tariffs.
TSMC will be exempt from these tariffs due to its investments in US production facilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.