Why Taiwan Semiconductor Manufacturing Stock Is Falling Today Despite Early Gains
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is losing a bit of ground in Thursday's trading. The semiconductor fabrication leader's share price is down 1.2% as of 11:30 a.m. ET, according to data from S&P Global Market Intelligence.
TSMC stock opened today's trading sessions with significant gains following better-than-expected second-quarter results from Nvidia (NASDAQ: NVDA) -- one of its key customers. But while the Taiwan-based fabrication specialist's share price was up as much as 2.7% in the daily trading session, it hasn't been able to hold on to the gains.
Nvidia published its second-quarter results after the market closed yesterday, posting results that came in well ahead of the market's expectations. The leader in graphics processing unit (GPU) hardware recorded earnings of $2.70 per share on revenue of $13.51 billion, breezing by the average Wall Street analyst's target for per-share earnings of $2.09 on sales of $11.22 billion.
Source Fool.com
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