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Taiwan Semiconductor Manufacturing Company (TSMC) has seen a significant surge in its stock price, rising 6% on June 12. This follows a reiteration of a 'Buy' rating from Bank of America, which also raised the price target to $180. The rating and price target increase were influenced by strong tailwinds from Apple's WWDC announcements. Apple, TSMC's largest client, accounts for 25% of TSMC's revenue. Bank of America analyst Brad Lin described TSMC as an 'indispensable and reliable partner' to Apple.
TSMC $TSM gained in trading after Bank of America analyst Brad Lin reiterated a Buy and raised the price target to $180. The analyst stated that the chipmaker was an “indispensable and reliable partner” to Apple $AAPL https://t.co/1pR3n9Hr9i
I’ve been pounding the table on Taiwan Semi $TSM in our community since May 10. Safe to say, this trade has PAID 💰 Sometimes, the obvious trade is the right one. https://t.co/HLQvVuW9HA https://t.co/rhsaqTQbey
$TSM Holy moly. +6% today. https://t.co/HbS881uZ3h