Movement Alert｜TSMC Falls 3.14% in Regular Trading, Semiconductor Sector Hit by Broad Selloff as Philadelphia Semiconductor Index Drops Over 4%

Market Focus07-01 22:09

On July 1, TSMC fell 3.14% in regular trading, trading at $460.41/share, with turnover of $16.69 billion. The decline came amid a sweeping selloff across the semiconductor sector, with the Philadelphia Semiconductor Index plunging over 4%.

Broad-based selling pressure engulfed the chip sector, with Micron Technology falling 6%, Intel dropping nearly 5%, Advanced Micro Devices declining 4%, NVIDIA sliding 2%, and Broadcom losing 2%. The sector-wide retreat marks a sharp reversal from the prior session, when the Philadelphia Semiconductor Index had risen over 2% and TSMC gained over 3% on the back of a Morgan Stanley target price upgrade.

Despite the intraday weakness, multiple investment banks have recently raised TSMC target prices. Nomura lifted its target to NT$3,425, implying approximately 46% upside, while Bank of America raised its ADR target to $590 and UBS set its target at NT$3,400. The company is scheduled to report second-quarter earnings on July 16, with consensus EPS estimates at approximately $3.80 and revenue projected at $40.06 billion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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