TSMC Hits $1 Trillion in Market Value on Relentless AI Rally
- Morgan Stanley, JPMorgan among analysts boosting projections
- Optimism rises heading into company’s second-quarter earnings
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Taiwan Semiconductor Manufacturing Co. briefly surpassed $1 trillion in market capitalization after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.
TSMC ADR shares jumped as much as 4.8%, to touch the milestone just after the opening bell in New York on Monday, taking its share price increase this year to more than 80%. The Taiwanese chipmaker overtook Berkshire Hathaway Inc. earlier in June to become the world’s eighth most valuable company, based on its ADRs, which trade at a considerable premium to its Taipei-traded shares.