It's been a super year for investors in Taiwan Semiconductor Manufacturing (NYSE: TSM). At the time of writing, the stock is up 43% this year and increased by 11.4% in the week ending Friday, according to data provided by S&P Global Market Intelligence.

This week's move comes amid more positive news that encouraged investors to believe the semiconductor industry is set for an upswing in 2024, driven by demand for high-performance computing for artificial intelligence (AI) applications.

The company publishes monthly sales data, and the latest release for February shows that its sales were up 11.3% from February of last year. In addition, its January to February sales are up 9.4% compared to the same period of 2023.

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Source Fool.com