Taiwan Semiconductor's Shares Surge Again This Week

Shares in Taiwan Semiconductor surged 11.4% in the week ending Friday, driven by positive news indicating an upswing in the semiconductor industry, particularly in demand for high-performance computing for AI applications. The company's sales data for February showed an 11.3% increase from the previous year, confirming a recovery in the industry, supported by global industry sales rising 15.2% in January. With ongoing recovery and the CHIPS Act supporting investment, Taiwan Semiconductor is on track to hit its revenue growth target in 2024.