Taiwan Semiconductor Manufacturing (TSM) exceeded Q1 sales expectations due to high demand for AI chips, with a 16.5% year-over-year increase in revenue. The company's stock rose following the news, and its customers include AMD, Apple, and Nvidia. Despite an earthquake impacting production, analysts remain optimistic about TSM's long-term growth prospects, particularly in the AI sector, and TSM stock ranks first in its industry group.
Carvana announces a deal to reduce its debt by $1.2 billion, leading to a significant increase in its stock price. The company also reports a big sales beat for the second quarter, with a surge in a key profit metric. Carvana plans to raise up to $1 billion through a stock sale as part of its restructuring efforts. Despite a loss in Q2, the company's gross profit per unit increased by 94% compared to the previous year. Carvana stock has skyrocketed this year, but still remains below its all-time high.
