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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid sustained demand for artificial intelligence technologies, Taiwan Semiconductor (TSM) stock jumped 4% in premarket trading on Thursday, according to reports from Benzinga, after Micron Technology reported quarterly earnings that beat expectations. The move reflects investor optimism that strong demand for high-performance memory chips will provide a significant boost to TSMC as a key supplier of advanced chips.
The price action follows Micron’s blowout results, with revenue and profits surpassing analyst estimates, signaling continued heavy spending by major tech firms on AI infrastructure. According to market data, TSMC stands as one of the primary beneficiaries of this trend given its central role in manufacturing advanced chips used in AI applications.
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Sign InTSMC closed the previous session at $440.80 (June 24 close), with a trading range between $432.58 and $443.86. Investors are now watching upcoming earnings reports from sector peers and AI demand indicators to assess whether the bullish momentum can be sustained.