Two of the world’s most critical chip firms rally after Nvidia’s 26% share price surge
Two of the world’s most critical chip firms rally after Nvidia’s 26% share price surge
IMPORTANT FACTORS
Following Nvidia's impressive earnings, two of the most important semiconductor companies in the world—the Dutch ASML and the Taiwanese TSMC—saw their share prices rise.
Nvidia figure second quarter deals which were half higher than Money Road gauges, on proceeded with interest for its chips for man-made reasoning applications.
A straightforward fact can be used to explain the rise in these two stocks: Nvidia doesn't produce its own chips.
All things considered, it depends on TSMC to make its semiconductors, and TSMC depends on ASML for probably the most exceptional chipmaking gear on the planet.
After Nvidia's earnings impressed investors, ASML, a Dutch semiconductor company, and TSMC, a Taiwanese semiconductor company, saw their share prices rise on Thursday.
On Wednesday, Nvidia surpassed market expectations in terms of revenue and earnings. However, the U.S. giant's stock surged more than 24% in after-hours trade due to its sales forecast of approximately $11 billion for the second quarter, which was more than 50% higher than Wall Street estimates.