Stocks Analysis by Investing.com (Alessandro Bergonzi) covering: Apple Inc, NVIDIA Corporation, Taiwan Semiconductor Manufacturing. Read Investing.com (Alessandro Bergonzi)'s latest article on Investing.com
TSMC, the world's top chipmaker, fuels tech giants like Apple but boasts even faster sales growth.Strategic US partnership and robust financials position TSMC for continued growth.) sold his $5 billion stake in the company, claiming geopolitical risks would make it a difficult bet going forward. However, as time goes by and the Taiwan-based giant keeps sailing unfazed, market participants are beginning to wonder if the Oracle of Omaha missed the mark on this one.
In April, President Joe Biden announced that TSMC would be eligible for up to $6.6 billion in direct funding from the U.S. Department of Commerce under the Chips and Science Act, a law designed to promote domestic research and semiconductor manufacturing. With these funds, TSMC will build a third factory at its U.S. site in Phoenix, Arizona, bringing its total investment in the industrial complex to over $65 billion.
TSMC will release its overall first-half financial statements on July 18. In the meantime, a 40% increase in sales is a positive indicator, suggesting that TSMC has effectively countered the decline in smartphone sales. As the smartphone sector shows signs of recovery, TSMC gains additional momentum to potentially join the ranks of trillion-dollar companies.
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