Taiwan Semiconductor Stock Lifts Sector On Sunny Outlook

The company sees revenue growing over 20% in 2024

Deputy Editor
Jan 18, 2024 at 11:01 AM
facebook X logo linkedin


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.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI