What's Going On With TSMC Stock?

Taiwan Semiconductor Manufacturing Company Ltd. TSM shares are trading higher Monday after Susquehanna maintained a Positive rating on the stock and raised its price target from $180 to $200.

The Details:

According to a report from the Commercial Times of Taiwan, TSMC plans to increase the price of its 3nm wafers by more than 5% and the price for advanced packaging next year is 10% to 20% higher as well. The report also mentioned major clients, including Apple and Nvidia, have reserved all production capacity at TSMC until 2026.

Taiwan Semiconductor is one of the top trending tickers across social media Monday, including WallStreetBets and Yahoo Finance. According to data from Benzinga Pro, the stock notched a new 52-week high of $178.33 Monday and is trading well-above its 50-day moving average of $148.58. 

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TSM Stock Prediction 2024:

Taiwan Semiconductor’s revenue growth in FY23 was -8.68%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at -0.2%, growing 2.2% from last year. The unemployment rate was most recently reported as 4.0%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Taiwan Semiconductor stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

How does this stack up against Taiwan Semiconductor's peers?

Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Taiwan Semiconductor operates in the Information Technology sector. The stock has experienced average annual growth of 15.09% compared to the 17.94% average of its peer companies. This is below the broader sector movement of Taiwan Semiconductor.

TSM Price Action: According to Benzinga Pro, Taiwan Semiconductor Manufacturing shares are up 1.56% at $175.21 at the time of publication Monday.

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