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Technology Stocks : Semi Equipment Analysis

SOXX 297.50

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Nov 6 4:00 PM EST

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From: Julius Wong	8/9/2024 9:58:57 PM
	1 Recommendation Recommended By Return to Sender of 95383

Taiwan Semiconductor's July sales surge nearly 45% amid AI chip demand Aug. 09, 2024 4:54 AM ET By: Ravikash Bakolia, SA News Editor Sundry Photography Taiwan Semiconductor Manufacturing's (NYSE: TSM) revenue for July jumped 44.7% year-over-year to about NT$256.95B amid growing demand for artificial intelligence chips for use in AI products. TSM — which produces chips for some of the world's largest tech companies including Apple ( AAPL), Nvidia ( NVDA) and AMD ( AMD) — saw a month-over-month increase of 23.6%, as it had generated revenue of NT$207.87B in June. Revenue for the seven months, January through July 2024, amounted to NT$1.523T, surging 30.5% compared to the same period in 2023. TSM's second quarter results had surpassed estimates and third quarter revenue outlook was seen above estimates, amid a surge in demand for chips used for AI products. For the third quarter, the company expects its business to be helped by strong smartphone and AI-related demand for its leading-edge process technologies.

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