TSMC reported record profits driven by strong AI demand, yet its shares slipped as investors engaged in profit-taking. The company announced an additional $100 billion investment in the United States to bolster its manufacturing capabilities. Meanwhile, UnitedHealth shares rallied following earnings that indicated a recovery from previous investor concerns. Overall, earnings from TSMC and ASML confirmed soaring demand for AI technology despite the recent downturn in sector stock prices.
The Taiwanese chipmaker beat revenue and margin estimates, but concerns over record capital expenditure guidance weighed on stock performance.
Read the full storySemiconductor giants reported surging AI demand, yet investor caution over high valuations triggered a sector-wide sell-off despite solid fundamentals.
In a stark contrast between operational strength and market reaction, TSMC reported financial results that exceeded both sales and earnings per share (EPS) expectations.