Why TSMC Stock Is Soaring Today
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is surging to a new all-time high Thursday. The semiconductor fabrication leader's share price was up 5.3% as of 10:15 a.m. ET. At the same point in the daily session, the S 500 was up 0.3%, and the Nasdaq Composite was up 0.7%. The chip stock had been up as much as 7.1% earlier in the session.
TSMC's valuation is roaring higher after the White House confirmed that the company will not be subject to a newly announced 100% tariff on semiconductors. The development looks to be a major positive catalyst for the company, and investors are responding by buying its stock in droves.
Image source: Getty Images.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
€198.00
-2.940%
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 219 € there is a slightly positive potential of 10.61% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 198.0 €.
