Why Taiwan Semiconductor Manufacturing Rallied Today
Stocks did well today, but tech stocks did even better, and semiconductor stocks did even better than that. Yet Taiwan Semiconductor Manufacturing's (NYSE: TSM) stock was a particular standout. Shares of the leading semiconductor foundry were surging today, up 6.5% as of 2:56 p.m. ET.
The company, also known as TSMC, actually had muted performance to start the week amid news that Warren Buffett's Berkshire Hathaway had completely sold out of the stock last quarter, as reported in a filing Monday night. So perhaps TSMC is playing catch-up to the surging semiconductor sector today.
While there wasn't one particular reason for today's big rally, there were several factors likely propelling the sector and TSMC (specifically) higher today.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Aktie
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