TSMC helped lead a broad charge in Asian tech stocks Monday (Jan 5) as investors ploughed more cash into the AI theme despite concerns of overheating. The sector was once again the biggest boost to regional equities as fear of missing out on further gains overcame concerns of short-term volatility in the wake of US strikes against Venezuela.
(Jan 05): Taiwan Semiconductor Manufacturing Co shares climbed by the most since April, as the world’s largest contract chipmaker rides a continued wave of optimism over artificial intelligence demand into the new year.
Shares of the key supplier to Nvidia Corp and Apple Inc jumped as much as 6.9% to touch a new record high in Taipei. That came after Goldman Sachs Group Inc raised its TSMC price target 35% to NT$2,330, citing expectations of another year of solid growth.
