Chart of Day: Taiwan Semiconductor (TSM) – 7/5

Keep an eye on Taiwan Semiconductor (SYM: TSM).

After some recent weakness, it’s just starting to push higher again. Now, if it can break above prior resistance at around $184.86, it could challenge $200 shortly after.

tsm

Helping, analysts at Bernstein recently raised their price target to $200. The firm noted that, “high-end phone and advanced nodes are propelling TSM to top its 2024 guidance. Data center AI revenue is rising as planned, but more data indicating AI driving an upward shift in smartphone came as an upside surprise.”

Even better, according to analysts at Bank of America, TSM is an “indispensable and reliable partner” to Apple, as noted by CNBC. 

“We believe the semi-demand upside from Apple can get bigger with its widening AI service, from a relatively low base,” added the firm. “TSMC is Apple’s supplier for the A- and M-series semiconductors and is well poised to benefit from multi-year growth.”

Get FREE Daily Stock Tips

Join and receive market insider stock picks, trade alerts and unique investing insights
This field is for validation purposes and should be left unchanged.
By clicking the "Subscribe" button you are accepting our Terms of Use and Privacy Policy.

Join Waitlist

We’re sorry, but due to the popularity of our services, we have reached our max number of subscribers and are not currently accepting more. If spots become available, we will be sure to contact you. Please join the waitlist below.
Thank You!

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.