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**TSMC (TSMC) Stock Soars as Record Q2 Profit Beats Estimates**
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSMC), the world’s largest independent semiconductor foundry, has reported a record-breaking second-quarter profit, exceeding market expectations and sending its stock soaring 3.89% to $246.80.
This remarkable performance is largely attributed to the company’s strong focus on AI chip production, which has seen an unprecedented surge in demand. Notably, TSMC manufactures advanced processors for industry leaders like Nvidia and Apple, positioning it uniquely within the global semiconductor market.
As a result of this strategic alignment, the chipmaker reported a staggering 61% year-over-year increase in net income to NT$398.27 billion, far surpassing estimates. In addition, revenue surged by an impressive 38.6% YoY to NT$933.79 billion.
The company’s significant expansion into AI chip production is expected to sustain its dominance in the industry. Analysts Brady Wang and Sravan Kundojjala emphasized the long-term potential of this trend, despite ongoing geopolitical uncertainties.
Source: coincentral.com
