Why Taiwan Semiconductor Manufacturing Rallied Today
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) were rising on Monday, up 4.3% as of 11:13 a.m. ET.
The big move came ahead of big tech's earnings this week, although Taiwan Semi had already reported its fourth-quarter numbers last week. Yet on Monday, two different Wall Street analysts had positive things to say about the semiconductor sector broadly. As TSMC is the biggest chip foundry in the world, accounting for nearly 60% of all produced semiconductors, it rose on the heels of the bullish sector calls.
On Monday morning, analysts at both Barclays and Goldman Sachs released bullish notes on semiconductors.
Source Fool.com
