The value of Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) American depositary receipts (ADRs) reached a historic high on Friday, after the leading contract chipmaker’s Taipei-listed shares continued to break records amid an artificial intelligence (AI) boom.
TSMC’s ADRs surged 5.17 percent to US$319.61, valuing the company at US$1.657 trillion as of the close of the first trading day in New York this year, which propelled its market capitalization to the sixth-largest globally, surpassing tech giants such as Meta Platforms Inc and Broadcom Inc, data released by CompaniesMarketCap showed.
The jump, driven by strong AI demand and the company’s advanced manufacturing capabilities — such as chip-on-wafer-on-substrate packaging — placed TSMC as the second-largest semiconductor company after Nvidia Corp.
Photo: Bloomberg
Nvidia remained the world’s largest stock, with a market cap of US$4.597 trillion on Friday, ahead of Apple Inc at US$4.021 trillion.
Alphabet Inc ranked third with a market value of US$3.806 trillion, followed by Microsoft Corp at US$3.515 trillion and Amazon.com Inc at US$2.421 trillion, CompaniesMarketCap’s data showed.
TSMC’s Taipei-listed shares hit a new high of NT$1,585 on Friday, lifting its market value to NT$41.1 trillion (US$1.31) last week, Taiwan Stock Exchange data indicated.
Ahead of TSMC’s earnings conference on Thursday next week, investment advisory firm Aletheia Capital (Hong Kong) Ltd in a note raised its revenue and earnings projections for TSMC for this year and next year.
“Regardless of CSPs [cloud service providers] prioritizing in-house ASICs [application-specific integrated circuit], AMD [Advanced Micro Devices Inc] gaining share, or Nvidia’s continual rapid rise, [they] all heavily rely on TSMC’s foundry services,” Aletheia Capital analysts Stefan Chang (張玄志) and Warren Lau (劉華仁) wrote.
TSMC’s revenue and earnings could more than double and triple from 2024 to next year, with the growth being driven by “capacity expansion, a richer product mix, a higher utilization rate and ongoing price hikes,” the analysts said.
Aletheia Capital also raised price targets for TSMC’s Taipei-listed shares from NT$2,100 to NT$2,400 and its ADRs from US$450 to US$500, the note said.
Micron Memory Taiwan Co (台灣美光), a subsidiary of US memorychip maker Micron Technology Inc, has been granted a NT$4.7 billion (US$149.5 million) subsidy under the Ministry of Economic Affairs A+ Corporate Innovation and R&D Enhancement program, the ministry said yesterday. The US memorychip maker’s program aims to back the development of high-performance and high-bandwidth memory chips with a total budget of NT$11.75 billion, the ministry said. Aside from the government funding, Micron is to inject the remaining investment of NT$7.06 billion as the company applied to participate the government’s Global Innovation Partnership Program to deepen technology cooperation, a ministry official told the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s leading advanced chipmaker, officially began volume production of its 2-nanometer chips in the fourth quarter of this year, according to a recent update on the company’s Web site. The low-key announcement confirms that TSMC, the go-to chipmaker for artificial intelligence (AI) hardware providers Nvidia Corp and iPhone maker Apple Inc, met its original roadmap for the next-generation technology. Production is currently centered at Fab 22 in Kaohsiung, utilizing the company’s first-generation nanosheet transistor technology. The new architecture achieves “full-node strides in performance and power consumption,” TSMC said. The company described the 2nm process as
Shares in Taiwan closed at a new high yesterday, the first trading day of the new year, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) continued to break records amid an artificial intelligence (AI) boom, dealers said. The TAIEX closed up 386.21 points, or 1.33 percent, at 29,349.81, with turnover totaling NT$648.844 billion (US$20.65 billion). “Judging from a stronger Taiwan dollar against the US dollar, I think foreign institutional investors returned from the holidays and brought funds into the local market,” Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺) said. “Foreign investors just rebuilt their positions with TSMC as their top target,
POTENTIAL demand: Tesla’s chance of reclaiming its leadership in EVs seems uncertain, but breakthrough in full self-driving could help boost sales, an analyst said Chinese auto giant BYD Co (比亞迪) is poised to surpass Tesla Inc as the world’s biggest electric vehicle (EV) company in annual sales. The two groups are expected to soon publish their final figures for this year, and based on sales data so far this year, there is almost no chance the US company led by CEO Elon Musk would retain its leadership position. As of the end of last month, BYD, which also produces hybrid vehicles, had sold 2.07 million EVs. Tesla, for its part, had sold 1.22 million by the end of September. Tesla’s September figures included a one-time boost in
RSS