Semiconductor Stocks Surge on Strong TSMC Q4 Results

AMD and Nvidia see significant gains as Taiwan Semiconductor reports higher than expected revenue.

AMD shares are trading higher by 2.2% to $166.16 after Raymond James maintained a Strong Buy and raised its price target from $140 to $190.
Shares of several semiconductor and chip stocks also gained late this week in sympathy with Taiwan Semiconductor Mfg. Co. Ltd. after the company reported strong fourth-quarter financial results.
Taiwan Semiconductor Manufacturing Company Ltd (TSMC) reported fourth-quarter revenue of $19.62 billion, showing a 1.5% year-on-year decrease but surpassing the consensus estimate of $19.45 billion.
Nvidia Corp NVDA stock maintained its rally Friday along with peers Advanced Micro Devices, Inc AMD as chief contract chipmaker Taiwan Semiconductor Manufacturing Company Ltd TSMC won the Street with its upbeat quarterly results and guidance.
Meta Platforms Inc META CEO Mark Zuckerberg announced a significant investment in Nvidia’s AI chips, focusing on building a robust computing infrastructure.