Nikkei jumps almost 3% as tech stocks rally, leading Asia-Pacific markets higher
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
Market Performance: Asia-Pacific markets opened higher, driven by a tech rally in the U.S., with significant gains in Japan's Nikkei 225 and South Korea's Kospi, alongside strong performances from semiconductor stocks following positive comments from Nvidia's CEO about AI chip demand.
Economic Indicators: Japan's producer price index rose 2.5% year-on-year, below expectations, while investors await upcoming consumer price index data from India and Hong Kong's producer price index, as well as the U.S. producer price index release indicating inflation trends.
Analyst Views on TSM
Wall Street analysts forecast TSM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TSM is 313.46 USD with a low forecast of 63.24 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 327.370
Low
63.24
Averages
313.46
High
390.00
Current: 327.370
Low
63.24
Averages
313.46
High
390.00
About TSM
Taiwan Semiconductor Manufacturing Co Ltd is a Taiwan-based integrated circuit foundry service provider. The Company is primarily engaged in integrated circuit manufacturing services. It offers advanced process technologies, specialised process solutions, advanced photomask and silicon stacking, and packaging-related technologies, while supporting a comprehensive design ecosystem. The Company's products serve diverse electronic sectors including artificial intelligence, high-performance computing, wired and wireless communications, automotive and industrial equipment, personal computing, information applications, consumer electronics, smart internet of things, and wearable devices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
