Semiconductor foundry added additional US$35 billion to its market capitalization Monday

Taiwan News
Date: 2020/07/27
By: Eric Chang, Taiwan News, Contributing Writer

TAIPEI (Taiwan News) — Shares for Taiwan Semiconductor Manufacturing Co. (TSMC) soared by more than 9 percent during Monday morning’s (July 27) trading session after rival Intel announced last week it would face significant production delays.

The Taiex closed 2.3 percent higher on Monday — breaking a 30-year record — as TSMC added an additional US$35 billion to its market capitalization, making it the 12th most valuable stock worldwide, according to Bloomberg. This helped the Taiwanese semiconductor maker reach a total market cap of more than NT$10 trillion (US$340.1 billion), according to Nikkei Asian Review.

That comes after Intel announced last Thursday (July 23) that its 7-nanometer chips will not be ready for market until 2022 or early 2023, Reuters reported. Intel also said it is considering outsourcing some production to outside semiconductor foundries, according to Reuters.

Intel’s two biggest rivals, TSMC and Samsung, are set to benefit as the U.S. semiconductor giant falters. Both Asian companies are already working on more advanced 5-nanometer chip technology, while TSMC is already mass-producing 5-nanometer chips, Nikkei Asian Review reported.    [FULL  STORY]