Why Taiwan Semiconductor, Intel, and Qualcomm Stocks Popped Today
All's well that ends well in the stock market -- and as trading winds down in what has been a miserable year for semiconductor investors, shareholders of Taiwan Semiconductor Manufacturing (NYSE: TSM), Intel (NASDAQ: INTC), and Qualcomm (NASDAQ: QCOM) are getting a reprieve of sorts.
So far this year, TSMC has lost 39% of its market cap, Qualcomm 41%, and Intel is down 51%. But for various reasons, shares of TSMC are enjoying a 3.6% bump on the second-to-last day of trading this year, as of 12:22 p.m. ET. Qualcomm is gaining 2.9%, and Intel is up 2.2%.
TSMC is today benefiting from a report by Taiwan's DigiTimes that says the company will begin to scale its production of industry-leading 3 nanometer semiconductor chips as early as mid-2023. "Multiple customers" are said to be ordering TSMC's newest chips, which suggests that even if the rest of the semiconductor industry has fallen into an inventory glut, TSMC, at least, appears to still have the potential to grow in the new year.
Source Fool.com