TSMC Poised for Sixth Record Quarter as AI Demand Fuels 65% Profit Surge
NVDA sits 33% above its 52-week low of $164.27.
Summary
TSMC is expected to report a 65% jump in Q3 net profit to T$746.3 billion ($23.4 billion) on Thursday, marking its sixth consecutive record quarter. The company is a key supplier to Nvidia and Apple, and its AI chipmaking capacity and CoWoS packaging remain in high demand. TSMC will also provide Q4 and updated full-year guidance on the call. The company is investing $265 billion in Arizona fabs and is evaluating a potential Texas investment, possibly subleasing part of Tesla's Terafab complex. This follows TSMC's 50% revenue beat last week and a raised capex forecast in July. The earnings call is scheduled for 0600 GMT Thursday.
At the time of this announcement, NVDA was trading at $218.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.3T. The 52-week trading range was $164.27 to $243.37. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.