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TSMC price jumps NT$6, breaks NT$17 trillion market cap

Taiwan’s leading chipmaker anticipates record-breaking revenue this year

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Two staff members stand in the foyer of a TSMC building. 

Two staff members stand in the foyer of a TSMC building.  (CNA photo)

TAIPEI (Taiwan News) — The share price for Taiwan Semiconductor Manufacturing Company (TSMC) jumped NT$6 (US$0.22) at the start of trading on the Taiex on Wednesday (Jan. 12), bringing the price to NT$657 per share.

The boost came after the PHLX Semiconductor Sector Index, a Philadelphia Stock Exchange capitalization-weighted index for the industry, jumped 70.6 points during trading hours in the U.S. on Tuesday (Jan. 11). With TSMC’s new gains on the stock market, the company’s market cap now exceeds NT$17 trillion, according to a CNA report.

TSMC is due to hold an earnings call on Thursday (Jan. 13), and shareholders are reportedly optimistic about the company’s prospects for 2022. The company expects to increase its revenue from the U.S. market by 26%, which if reached will break a new record for overall annual revenue, per CNA.