Why Applied Materials, ASML Holding, and Taiwan Semiconductor Stocks All Popped on Wednesday
Wednesday is shaping up to be a good day for semiconductor investors, as good news from China (and a potential money grab in Taiwan) lifts share prices of Applied Materials (NASDAQ: AMAT), ASML Holding (NASDAQ: ASML), and Taiwan Semiconductor Manufacturing Company (NYSE: TSM).
As of 10:30 a.m. ET, Applied Materials stock is up 4.9% and ASML 7.4%. TSMC bounced back from yesterday's decline with a 6.9% gain today.
Starting at the top of the supply chain, Applied Materials won an upgrade from this morning. As analyst Tom O'Malley explained, he's seeing a "robust uptick" in orders for foreign semiconductor manufacturing equipment in China, as that nation spends heavily to make itself self-sufficient in chips manufacturing. At the same time, O'Malley predicts semiconductor companies will spend "aggressively" on capital investment in the U.S. as they rake in subsidies from the U.S. CHIPS Act.
Source Fool.com
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