Why Taiwan Semiconductor Manufacturing, Advanced Micro Devices, and Broadcom Were Soaring Today
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM), Advanced Micro Devices (NASDAQ: AMD), and Broadcom (NASDAQ: AVGO) were on the rise Friday, appreciating 6.2%, 4.8%, and 4.7%, respectively, as of 2:14 p.m. ET.
The semiconductor industry has been in a downturn for most of 2023, with investors wondering when the sector will recover, and also what the trajectory of that recovery would be.
Today, TSMC reported its monthly October revenue, which surprised to the upside. Given that TSMC is the largest chip foundry in the world, and that AMD and Broadcom are big clients of TSMC, they rose too in a terrific day for semiconductor stocks broadly.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
€149.20
0.410%
With 22 Buy predictions and not a single Sell prediction Taiwan Semiconductor Manufacturing Co. Ltd. ADR is an absolute favorite of our community.
As a result the target price of 160 € shows a slightly positive potential of 7.24% compared to the current price of 149.2 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
