Why Taiwan Semiconductor Manufacturing Shares Are Rising

Shares of chip and semiconductor stocks, including Taiwan Semiconductor Mfg. Co. Ltd. TSM, are trading higher. A weekend report from the Semiconductor Industry Association showed November sales of $51.7B. Additionally, a report from Euler Hermes showed expected semi sales growth of 9% for 2022.

Shares of several companies in the broader technology sector were also trading higher last week on a continued rebound after the recent omicron-driven selloff.

See Also: Why Tesla Shares Are Trading Higher Today

Taiwan Semiconductor Manufacturing manufactures and sells integrated circuits and semiconductors. The company serves customers in computer, communications, consumer, and industrial and standard segments in North America, Europe, Japan, China and South Korea.

Taiwan Semiconductor Manufacturing has a 52-week high of $346.47 and a 52-week low of $115.66.