Chipmaker TSMC returns to the list of world’s 10 most valuable companies: Here’s what led to its comeback
[ad_1] Taiwan Semiconductor Manufacturing Company (TSMC) has reclaimed a spot in the list of the world’s 10 most valuable companies, riding the optimism of the artificial intelligence (AI) boom in the tech industry that pushed its stock to record levels.According to a report by Bloomberg, TSMC’s stock rallied 14% last week, elevating the chipmaker’s market capitalisation to a record, before a 2% decline in early trading on Monday (March 11), pared it to $634 billion. However, the decline didn’t impact the company much as it still has a market share higher than that of Broadcom, the report noted.What analysts have to sayAnalysts from Morgan Stanley and JPMorgan Chase & Co. expect the semiconductor giant – that has Apple, Nvidia and Qualcomm as its customers – to advance further amid surging AI-related revenue and strong pricing power. “Generative AI semi is […]