Taiwan Semiconductor Manufacturing Company (TSM, Financial) saw its stock price increase by 2.33% in pre-market trading, reaching $205.87. This surge follows TSMC's announcement of record-breaking October revenues, surpassing previous highs set in July.
The company's October revenue was reported at 314.24 billion New Taiwan dollars, marking a 24.8% increase month-over-month and a 29.2% rise year-over-year. While TSMC did not specify the exact reasons for this significant growth, it is widely believed to be driven by substantial orders from Apple and strong demand in the artificial intelligence sector.
