TSMC (TSM, Financial) saw its stock rise by 1.34% to $190 in pre-market trading, as reports suggest the company is accelerating its overseas expansion. By 2025, TSMC aims to establish ten new factories, both domestically and internationally, including those already under construction.
The semiconductor giant is pushing forward with projects in the United States, Japan, and Europe. Notably, a second factory in Kumamoto, Japan, is slated to begin construction in the first quarter of 2025, with mass production targeted for 2027.
In another development, Barclays has raised TSMC's target price from $215 to $240, reflecting confidence in the company's growth and expansion strategy.
