Analysts say the latest surge was spurred by reports of Intel placing new orders with rivals, including TSMC. FMTNews
TAIPEI: Taiwanese chip giant TSMC on Tuesday briefly became the world’s tenth-largest company thanks to a two-day surge in its stock price that has propelled the island’s exchange to a record high.
The company’s worth reached some US$410 billion on Tuesday morning to surpass US firms Johnson & Johnson and Visa to rank 10th in the world, according to Bloomberg News. TSMC also hit the 10% limit Monday, adding US$35 billion to its value and propelling the Taiex to an all-time high for the first time in three decades.So far this year the Taiex is currently up 5%, but without TSMC it would be down around 2%.Even before Monday’s rally the company’s share price was up 17% this year.
Asian chip giants like TSMC and Samsung are likely to benefit as a result of any delays Intel might suffer.
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