TSMC's net profit rises 77% in second quarter
Taiwan-based TSMC, the world's largest chipmaker, reported a 77% increase in net profit for the second quarter of 2024 compared to the same period last year. The company's net profit for the quarter exceeded market expectations.
This strong profit growth was driven primarily by sustained demand for artificial intelligence chips. TSMC plays a critical role in producing advanced chips used in AI applications.
The company's revenue also saw a similar increase. TSMC's financial results for the second quarter successfully attracted investor attention.
This is not investment advice.
📊 TSM — Piyasa Yorumu
▲ up · 65%TSMC's strong profit growth news creates a positive catalyst for the stock. However, technical indicators present a weak outlook: RSI at 41.8 is near the sell zone, MACD is below zero, and the price is below the 20-day moving average. In the short term, the positive impact of the news may be limited by technical resistances. Therefore, while an upward move is expected, confirmation should be awaited for a strong rally.
RSI 14
41.9
MACD
-4.00
24h Δ
-3.94%
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