TSMC Reports 40% Sales Jump in May

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a significant 40% increase in sales in May, reaching 320.5 billion New Taiwan dollars (approximately $10.7 billion). Despite the impressive year-over-year growth, sales dropped by 8.3% compared to the previous month. TSMC, a leading chip manufacturer, produces advanced chips for companies like Nvidia. The stock's American depositary receipts rose by 25% in the last 12 months, outperforming the S&P 500 index. This news contributed to a positive sentiment in the market.