BUZZ-US chip stocks rise after TSMC's record quarterly profit

Reuters
16 Jan
BUZZ-US chip stocks rise after TSMC's record quarterly profit

** U.S. chip stocks rise premarket after Taiwan Semiconductor Manufacturing Co 2330.TW, the world's largest contract chipmaker, reported record quarterly profit on Thursday

** U.S.-listed shares of TSMC TSM rise 5.12%; company expects robust revenue growth in the first three months of 2025 as demand for AI processing chips surges

** Memory chipmaker Micron Technology MU.O up 1.6%

** Networking chipmakers Broadcom AVGO.O and Marvel Technology MRVL.O rise 2.1% and 1.94%, respectively; smartphone chipmaker Qualcomm QCOM.O rises 0.8%

** Advanced Micro Devices AMD.O, which makes chips for personal computers, servers and AI chips, rises 1.2%

** U.S.-listed shares of Arm Holdings ARM.O advance 1.9%

** AI chipmaker Nvidia NVDA.O rises 2.01%

** Shares of chip-making equipment companies rise; Applied Materials AMAT.O up 3.02%, Lam Research LRCX.O up 3.6% and KLA Corp KLAC.O up 3.04%

** The iShares Semiconductor ETF SOXX.O and the VanEck Semiconductor ETF SMH.O rise over 1.5% each

** Shares in European semiconductors also rise after TSMC's report; ASML ASML.AS, the largest maker of equipment for manufacturing computer chips, is up 3.5%

** The Philadelphia Semiconductor Index .SOX rose 19.3% in 2024

(Reporting by Sanchayaita Roy in Bengaluru)

((sanchayaita.roy@thomsonreuters.com))

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