Semiconductor Shares Gained in Morning Trading.
Arm Holdings, TSMC rose about 4%; ASE Technology rose 3%; Broadcom, Applied Materials, Micron, Nvidia rose over 2%.
Taiwan Semiconductor Manufacturing Co. saw April sales jump 60% to NT$236 billion ($7.3 billion) as sustained artificial intelligence demand was helped by the beginnings of a recovery in consumer electronics. TSMC’s U.S.-listed shares rose about 2% in premarket trading.
The world’s largest contract chipmaker is running well ahead of estimates for revenue growth in the current quarter, after sales increased by 34.3% in March, buoyed largely by insatiable appetite for AI semiconductors. The global smartphone industry returned to growth over the first three months of the year, including in the highly competitive Chinese market, which may drive orders for TSMC’s traditional mainstay of mobile chips.
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