Taiwan Semiconductor Manufacturing Co. (TSMC) shares hit a record high in Taipei, driven by Morgan Stanley raising its price target before earnings.
Taiwan Semiconductor Manufacturing Co. (TSMC) shares reached a record high in Taipei, boosted by Morgan Stanley and other brokers raising price targets before earnings. Morgan Stanley raised its target by 9%, predicting TSMC will increase its full-year sales estimate and wafer prices due to strong bargaining power. The "hunger marketing" strategy appears to be working, with TSMC signaling leading-edge foundry supply could be tight in 2025.
July 08, 2024
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