TSMC shares jump after Goldman Sachs raises target; stock price rises most since April
As the largest contract chipmaker in the world continues to ride a wave of confidence over artificial intelligence demand into the new year, Taiwan Semiconductor Manufacturing Co.’s shares rose by the most since April.
In Taipei, shares of the major supplier to Apple Inc. and Nvidia Corp. surged as much as 6.9%, setting a new record. This followed Goldman Sachs Group Inc.’s 35% increase in its TSMC price estimate to NT$2,330, which was justified by the company’s anticipation of another year of strong growth.
Despite worries about overheating, investors are pouring more money into the AI theme, and TSMC helped spearhead a broad surge in Asian tech equities on Monday.
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