What's Going On With Taiwan Semiconductor Stock Friday?

Taiwan Semiconductor Manufacturing Co TSM is trading higher Friday as it reported a 34.8% month-on-month topline growth in October.

The strong dollar and Apple Inc's AAPL new product launch helped drive the growth, Digitimes reports.

Also Read: AI Demand Fuels TSMC's Earnings, Offering a Beacon of Hope in Semiconductor Slump

Meanwhile, TSMC will likely share its plans to build its second wafer fab in Japan. 

The fab will be involved in 6nm process manufacturing, with the government committing at least JPY750 billion ($4.96 billion), reports indicate.

Japan earmarked $13 billion for semiconductor and generative AI, including TSMC's Kumamoto plant.

Recently, at a Taipei event, tech leaders gathered to felicitate TSMC founder Morris Chang. Among the attendees was Nvidia Corp NVDA CEO Jensen Huang, who attributed Nvidia's success to TSMC, crediting Chang's pivotal role. Huang emphasized TSMC's unique ability to meet diverse customer needs and its rapid advancement in chip technology, even at the edge of physical limits.

Price Action: TSM shares traded higher by 3.05% at $94.41 premarket on the last check Friday.