Taiwan Semiconductor Tops Analyst Estimates, Posts Record 2024 Revenue Fueled By AI: Retail's Bullish
TSM makes chips for some of the world’s biggest companies, including Nvidia and Apple. Its focus on AI has helped it weather tapering demand post-pandemic.
FollowTaiwan Semiconductor Manufacturing Co. (TSM) posted record revenue in the financial year 2024, riding the artificial intelligence (AI) wave and topping analyst expectations.
TSM’s December quarter revenue came in at $26.36 billion, growing by 38.8% year-on-year, ahead of analyst estimates of $26.26 billion, according to Stocktwits data.
The world’s largest chipmaker reported revenue of $87.8 billion for the financial year 2024, growing by 33.9% over 2023.
It’s worth noting that TSM will release its detailed earnings report next week.
TSM makes chips for some of the world’s biggest companies, including Nvidia Corp. (NVDA) and Apple Inc. (AAPL). Its focus on AI has helped it weathering tapering demand post pandemic – for the full year 2023, the company missed revenue estimates according to Stocktwits data.
TSM had forecast fourth quarter revenue in the range of $26.1 billion to $26.9 billion during its last earnings call in October.
Retail sentiment on Stocktwits remained in the ‘bullish’ (59/100) territory, while message volume was in the ‘normal’ (53/100) zone.
In pre-market trading on Friday, TSM stock price was up by 1.4% at the time of writing.
Meanwhile, users wondered if TSM beating analyst expectations is also good news for Nvidia.
However, one user wondered if President-elect Donald Trump’s economic policies could have pushed TSM customers to load up on chips in “panic.”
TSM’s shares have been on an uptrend over the past six months, gaining more than 8%. Over a one-year timeframe, TSM stock price has more than doubled, gaining over 105% during this period.
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