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American Focus > Blog > Economy > Taiwan Semiconductor’s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism
Economy

Taiwan Semiconductor’s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism

Last updated: September 10, 2024 5:59 am
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Taiwan Semiconductor’s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism
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Taiwan Semiconductor Manufacturing Co’s (NYSE:TSM) impressive growth in August 2024 has sparked optimism in the tech industry. With a 33% increase in sales, reaching NT$250.9 billion ($7.8 billion), the contract chipmaker is set to make big gains in the coming months. The slight 2.4% sequential decline does little to dampen the overall positive outlook for the company.

The surge in sales can be attributed to a resurgence in the smartphone market and the steady demand for Nvidia Corp’s (NASDAQ:NVDA) AI chips. Analysts are predicting a 37% revenue growth for Taiwan Semiconductor in the third quarter, further fueling the optimism surrounding the company.

One key factor driving this growth is Apple’s adoption of Wi-Fi 7 on the iPhone 16 and 16 Pro, which is expected to boost demand for mobile devices. Taiwan Semiconductor now generates over 50% of its revenue from high-performance computing, largely driven by the demand for AI technology. As a leading manufacturer of Apple Inc’s (NASDAQ:AAPL) iPhone central processor, the company is well-positioned to capitalize on the growing market.

In addition, Taiwan Semiconductor’s production yield at its Arizona facility is reportedly on par with its Taiwan facilities, indicating a promising outlook for the industry as a whole. This development has bolstered investor confidence, with Taiwan Semiconductor stock rising by 82% in the last 12 months.

For investors looking to capitalize on Taiwan Semiconductor’s growth, exposure can be gained through the SPDR S&P Emerging Asia Pacific ETF (NYSE:GMF) and the ProShares Nanotechnology ETF (NYSE:TINY). With Taiwan Semiconductor’s stock trading lower by 0.80% at $161.52 premarket, now may be an opportune time to consider investing in this promising company.

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Overall, Taiwan Semiconductor’s strong August sales signal a positive trajectory for the company, driven by AI and iPhone demand. As the tech industry continues to evolve and innovate, Taiwan Semiconductor remains at the forefront of technological advancement, poised for significant gains in the near future.

TAGGED:aheadAugustbigdemandFuelGainsHintiPhoneOptimismSalessemiconductorsstrongTaiwan
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