Taiwan Semiconductor Denies UAE Investment Rumors: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 23 2024
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Source: Benzinga
Taiwan Semiconductor Investments: Taiwan Semiconductor Manufacturing Co (TSMC) plans to invest over $100 billion in collaboration with Samsung Electronics in the UAE, supported by UAE subsidies, while also focusing on expanding its operations in the U.S. with new facilities in Arizona.
Stock Performance and Market Impact: TSMC's stock has risen 102% in the past year, benefiting from its role as a key supplier for AI chips, and is currently trading at $174.69, reflecting positive market sentiment amid recent interest rate cuts by the U.S. Federal Reserve.
Analyst Views on CARZ
Wall Street analysts forecast CARZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CARZ is USD with a low forecast of USD and a high forecast of 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.
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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.
