Taiwan Semiconductor has a 90% market share in advanced AI chips and reported third-quarter sales of $23.5 billion, exceeding analyst estimates by substantial margins. Earnings of $10.06 billion beat expectations, driving investor optimism in AI-related stocks.
Chairman C.C. Wei emphasized the strong demand for AI, stating, "Demand is real, and I think it is just the beginning of this demand....demand is insane and I think it will continue for many years." His insights reflect significant growth prospects in the AI sector.
The bullish earnings report from Taiwan Semiconductor has led to a rise in related stocks, with NVIDIA and other key players like Broadcom and Marvell also showing premarket gains, signifying investor confidence in AI-driven technology.
Earnings releases today are less prominent than earlier in the week, with M&T Bank and Travelers expected before market open, and notable reports from Intuitive Surgical and Netflix post-market, spotlighting continued market activity.
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