Taiwan Semiconductor's Q1 Performance Signals Return to Growth

Taiwan Semiconductor Manufacturing (TSM) beat expectations for the first quarter with earnings of $1.38 per U.S. share on sales of $18.87 billion, marking a return to sales and earnings growth after four consecutive quarters of declines. The company's stock fell in early trading despite the positive results. TSMC's customers include Apple, AMD, Nvidia, and Qualcomm, and it expects strong demand for its 3-nanometer and 5-nanometer technologies in the coming quarters.