TSMC Achieves Impressive Monthly Sales Growth, Stock Soars
Taiwan Semiconductor Manufacturing Co. (TSMC) saw its shares jump as much as 4.1% after reporting its first monthly sales gain since February. The world's largest supplier of made-to-order chips recorded a 15.7% increase in revenue in October, signaling a gradual recovery in the global chip market. TSMC's CEO expects the chip market to hit bottom soon, and the company has projected strong sales for the current quarter.