TSMC Stock Price Dislocation Reaches Widest Level in 16 Years
(Bloomberg) — The price gap between Taiwan Semiconductor Manufacturing Co.’s American depositary receipts and its Taipei-listed shares surged to the widest level in more than 16 years, reigniting concerns that the euphoria surrounding artificial intelligence may be overheating.
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The chipmaker’s stock in New York traded at an average 24% premium over its local listing in July, up from 17% in April and 7.4% over the past decade, Bloomberg-compiled data show. While TSMC’s ADRs have long been trading at a premium to the Taipei listing, the monthly spread has now reached the widest since April 2009.
“Surging investor awareness of TSMC’s pivotal role in the global AI supply chain has…
