The TSMC report corrected the ASML “mistake” – the global IT industry won back yesterday’s losses

Yesterday’s quarterly reports from ASML, published ahead of time due to a “technical error,” upset many investors; as a result, IT companies around the world lost about $420 billion in capitalization in total. Meanwhile, today TSMC issued not only a good report, but also optimistic forecasts, so the stock market pendulum swung in the other direction, allowing many to win back yesterday’s losses.

Image Source: TSMC

Actually, TSMC depositary receipts in the USA managed to grow by 12.5% ​​after the opening of trading as of the time of preparation of the material for publication. This raised the capitalization of the world’s largest contract chip manufacturer to over $1 trillion.

TSMC’s record earnings growth and higher revenue forecast for the current year contributed to the rise in stock prices of other companies in the semiconductor sector. Shares of Nvidia and AMD managed to gain more than two percent; shares of Broadcom, Qualcomm and Micron grew in price by 1.5 to 3%. Even the processor manufacturer Intel, which is not experiencing the best period in its history, showed an increase in its share price by 1.3%.

Comments from TSMC representatives at the quarterly conference allowed investors to see that demand in the segment of components for artificial intelligence systems is doing well, and the smartphone market may experience a long-awaited revival, if we rely on the forecasts of the company’s management. Nvidia, considered TSMC’s second-largest customer and one of the main beneficiaries of the AI ​​boom, saw its stock price rise 2.5% from yesterday, allowing the company to hit an all-time high for the second time in a week.

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