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Nvidia (NVDA)
Much investor optimism continues around major tech stocks, including chipmaker Nvidia, as a key enabler of the AI boom. The stock closed Monday's session nearly 4% higher, with the stock now up 182% year-to-date.
Investor enthusiasm for Nvidia had cooled after the release of its latest results in November, which disappointed slightly against expectations on certain metrics.
However, analysts remain confident about the stock, particularly around demand for its AI Blackwell chip.
Read more: FTSE 100 LIVE: Stocks push higher as traders prepare to wind down for Christmas
US markets rallied on Monday in a shortened trading week, with chip stocks leading gains. The S&P 500 (^GSPC) closed Monday's session up 0.7%, while the tech-focused Nasdaq (^IXIC) rose nearly 1%, with investors hoping for stocks to rally further ahead of the Christmas break.
Markets tend to see a seasonal surge around the Christmas period, also known as the "Santa rally". In the last 30 years, the S&P 500 has posted gains 23 times in December.
Taiwan Semiconductor Manufacturing Company (2330.TW, TSM)
Following the rise in US chip stocks, the Taiwan-listed shares of TSMC touched a fresh record high on Tuesday.
TSMC, which is the world's largest contract chipmaker, rose as much as 1.4% in Taipei before closing Tuesday's session flat, according to Reuters.
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Kevin Net, head of Asian equities at Financière de l'Échiquier, reportedly said: "For us, TSMC remains the best way to play the AI theme without having to pick a winner or a technology, at a reasonable valuation."
TSMC's role in the semiconductor market, manufacturing the designs of the likes of Nvidia, has meant it is consider a bellwether for the sector.
TSMC stocks rallied on the release of better-than-expected results last month. TSMC's shares are up 82% year-to-date.
Apple (AAPL)
Another tech stock that has continued to push higher is the world's most valuable company Apple. The company is closing on a historic $4tn valuation, with its market capitalisation currently standing at $3.86tn (£3.07tn).
Despite being overtaken as the world's most valuable company at one point by Nvidia, Apple's shares have since rebounded, rising 11% over the past month.
Sales of Apple's iPhone have been closely watched by investors, along with the rollout of its Apple Intelligence AI platform.
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Apple's most recent results showed that iPhone sales had beaten forecasts, at $46.2bn for its fiscal fourth quarter, against expectations of $45bn.