Taiwan Semi Rides AI Wave, Reports $7.1B Revenue In May
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 07 2024
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Source: Yahoo Finance
- Taiwan Semiconductor Manufacturing Co (TSMC) Revenue: TSMC reported a 30% increase in May sales, reaching $7.1 billion, driven by high demand for AI and recovering consumer electronics.
- TSMC's Market Presence: TSMC is the largest contract chipmaker globally, producing semiconductors for companies like Nvidia, Microsoft, and OpenAI.
- Industry Growth Expectations: TSMC anticipates a 10% annual growth in the semiconductor industry for 2024, excluding memory chips.
- Generative AI Unicorns: Nvidia and Google have significantly increased the number of generative AI unicorns, with investments in promising startups worldwide.
- Tech Industry Trends: Major tech companies are shifting focus to AI, investing in new technologies and talent, diversifying the global landscape of innovative startups.
Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 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.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 328.380
Low
279.00
Averages
338.25
High
390.00
Current: 328.380
Low
279.00
Averages
338.25
High
390.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
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.
