TSMC reported a 45% monthly sales increase YoY amid strong AI chips demand 🟢

Taiwan Semiconductor Manufacturing (TSM.US) stock is up 2.50% to $168.50 per share in pre-market trading following the company's publication of monthly revenues. Revenue for July is TSMC's highest monthly revenue in the company's history. 

Source: XTB Research

TSMC reported a significant increase in revenue for July 2024, with a 44.67% YoY growth to approximately NT$256.95 billion, driven by rising demand for AI chips. Monthly revenue also rose by 23.6% from June 2024's NT$207.87 billion. Overall, for the first seven months of 2024, TSMC's revenue reached NT$1.523 trillion, marking a 30.5% increase from the same period in 2023. The company's performance has been bolstered by robust demand for its advanced technology in AI and smartphone applications, with expectations for continued strong performance into the third quarter.

TSMC (D1 interval)

The company's stock is up 2.50% in pre-market trading on the NYSE, simultaneously increasing the scale of the rebound from Monday's lows to 26.50%.

Source: xStation 5