Is It Too Late to Buy TSMC Stock?
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, jumped over 2% following the release of the company's second-quarter results on July 14, 2022. The foundry giant handily beat Wall Street's expectations thanks to the growing demand for chips deployed in the Internet of Things (IoT), automotive, and high-performance computing (HPC) markets.
What's more, TSMC's guidance was the icing on the cake and should assuage the fears of a slowdown in semiconductor demand that has been weighing on investors' minds and pulling the sector down. Let's look at how TSMC performed last quarter and check whether buying the stock right now looks like a good idea.
TSMC's second-quarter revenue shot up 36.6% year over year to $18.16 billion, which was higher than the consensus estimate of $17.68 billion. The company's gross margin increased to 59.1% last quarter from 50% in the prior-year period. The operating margin also increased by an impressive 10 percentage points year over year.
Source Fool.com
