BUZZ-U.S. chip stocks climb on TSMC's Q1 profit beat

Reuters04-18

** U.S. chips stocks rise in premarket trade after Taiwan Semiconductor Manufacturing Co (TSMC) beats Q1 profit estimates

** TSMC reports Q1 profit of T$225.5 bln ($6.98 bln), beating estimates of T$218.1 bln - LSEG

** Co's Q1 revenue rose 13% YoY to $18.87 bln

** TSMC makes chips for many U.S. chip companies and benefits from a wave of demand for semiconductors used in artificial intelligence applications

** Nvidia up 1.7%, Advanced Micro Devices up 1.1%

** Applied Materials up nearly 1% and U.S.-listed shares of Arm Holdings gain 1%

** The Philadelphia Semiconductor index rose 9.3% YTD as of last close, compared with a 4.5% gain in Nasdaq

($1 = 32.3850 Taiwan dollars)

(Reporting by Pranav Kashyap in Bengaluru)

((Pranav.Kashyap@thomsonreuters.com;))

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.

Comments

We need your insight to fill this gap
Leave a comment