TSMC shares up on price increase; company declines to comment
Shares of Taiwan Semiconductor Manufacturing Co. rose Wednesday morning after local media reported that the world's largest contract chipmaker will raise product prices due to a global supply shortage, dealers said.Asked for comment on the reports, TSMC said the company never responds to any speculation on product price adjustments.The stock got a boost soon after the market opened from the reports, which said earlier Wednesday that TSMC will raise prices across the board. The Chinese language
Tesla sales surge 98%; company boosts margins on its less-costly electric cars
-Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to sharply higher sales of its less-expensive electric vehicles, as it raised prices to boost its margins on them.Tesla also cut costs which helped it offset many of the supply chain and microchip shortfalls facing the auto industry.For the first time since late 2019, Tesla profits did not rely on sales of environmental credits to other automakers, a sign of increasing financial health for the manufacturing operati