Why Taiwan Semiconductor’s Forecast-Beating Profits Could Propel Tech Stocks to Record Highs
Investors breathe a sigh of relief as Taiwan Semiconductor Manufacturing beats expectations with a 54% profit jump, signaling strong demand for AI chips. TSMC’s success could lift the entire tech sector, with Apple and Nvidia among its key clients.
With TSMC’s shares soaring in Frankfurt and Nvidia following suit in after-hours trading, Wall Street is poised for another day of gains. The tech-heavy Nasdaq and S&P 500 could hit new highs, fueled by strong earnings from U.S. banks.
Streaming giant Netflix’s earnings report will be closely watched for clues on its ad revenue growth. Meanwhile, the European Central Bank’s interest rate cut and China’s GDP data release could impact global markets.
Amidst global economic uncertainties, TSMC’s stellar performance offers a ray of hope for investors. Stay tuned for more updates on market-moving events throughout the day.
