Taiwan Semiconductor Stock Lifts Sector On Sunny Outlook

The company sees revenue growing over 20% in 2024

Laura McCandless

Deputy Editor

Jan 18, 2024 at 11:01 AM

Taiwan Semiconductor Inc (NYSE:TSM) stock is climbing today, picking up its sector peers as well after the Taiwan-based chip firm reported strong fourth-quarter results. The company now sees a 20% or more surge in revenue in 2024 due to demand related to artificial intelligence (AI).

TSM is floating at its highest levels since February 2022, up 6.8% at $109.98 at last glance, and earlier rose as high as $111.99. Trading above the $105 level, which provided a ceiling for the shares throughout December, the stock is now up 22.8% year over year.

In the options pits, calls are more than doubling puts so far this morning. At this point, 122,000 calls and 54,000 puts have been exchanged, which is already 2.5 times the average daily volume. The February 120 call is the most active contract by far, where new positions are being opened.

Analysts have yet to chime in on Taiwan Semiconductor's latest report, though brokerages are already quite bullish. In fact, six of the seven in coverage sporting a "buy" or better rating on TSM.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.