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Taiwan Semiconductor Manufacturing Co (NYSE:TSM) stock is trading higher Friday in sympathy with customers Meta Platforms, Inc (NASDAQ:META) and Microsoft Corp (NASDAQ:MSFT) this week’s quarterly financial results.
Meta reported its first-quarter financial results after the market closed on Wednesday. Its revenue was $42.31 billion, up 16%, beating analyst estimates of $41.39 billion.
The company reported first-quarter earnings of $6.43 per share, topping analyst estimates of $5.21 per share. Meta expects second-quarter revenue of $42.5 billion to $45.5 billion versus estimates of $44.06 billion.
Microsoft also reported third-quarter financial results after the market closed Wednesday. It reported a third-quarter revenue of $70.07 billion, up 13%. The revenue total beat a Street consensus estimate of $68.43 billion. The company reported quarterly earnings per share of $3.46, beating a Street consensus estimate of $3.22.
The upbeat results of the Big Tech giants reflect that they remain committed to their artificial intelligence ambitions despite U.S. semiconductor sanctions and tariff policies.
Dealers told Focus Taiwan strong earnings from two major U.S. tech giants reduced concerns about AI demand despite tariff disruptions.
Cathay Futures Consultant Tsai Ming-han told Focus Taiwan that bargain hunters capitalized on recent heavy losses caused by Trump’s unpredictable tariff policies. Taiwan Semiconductor attracted strong buying, backed by the artificial intelligence frenzy, which significantly boosted the Taiex, the weighted index on the Taiwan Stock Exchange (TWSE).
Morgan Stanley returned to Taiwan Semiconductor Manufacturing as a top pick, citing strong AI-driven capital spending from Big Tech firms, including Meta and Microsoft.
Price Action: TSM stock traded higher by 3.51% to $178.79 at the last check on Friday.
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This article Taiwan Semiconductor Gains On Strong Earnings From Meta And Microsoft Boosting AI Demand originally appeared on Benzinga.com
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