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TSMC beats US stocks with record 2024 sales
American depositary receipts (ADRs) of Taiwan Semiconductor Manufacturing Co. (TSMC) rose by 0.60% on Friday, contrasting with significant losses in United States markets.
The Dow Jones Industrial Average fell nearly 700 points, or 1.63%.
The Nasdaq dropped over 1.6% after a stronger-than-expected US jobs report dampened expectations for interest rate cuts by the Federal Reserve.
The increase in TSMC’s ADRs follows the company’s report of record sales for 2024, totaling NT$2.89 trillion (US$87.68 billion).
This figure marks a 33.9% increase year-on-year and surpasses the company’s earlier growth projection of just under 30%, made in October 2024.
Recent Taiwan Semiconductor Manufacturing developments
| Timeline |
|---|
12-Jan-2025 🔧 Taiwan greenlights TSMC’s US investment in 2nm chip plant
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11-Jan-2025 🇺🇸 TSMC makes history with first 4nm chip made in US
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10-Jan-2025 📈 TSMC achieves $26.3b in Q4 revenue due to growing AI demand
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10-Jan-2025 🚫 TSMC ends ties with SG firm over Huawei chip: sources
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| 30-Dec-2024 🏭 TSMC to build two more chip plants in southern Taiwan |
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