European Chip Stocks Surge After TSMC Posts Record Fourth-Quarter Profit

European stocks opened broadly higher on Thursday, with traders digesting the latest geopolitical news around Greenland and Iran. The surge in European chip stocks was led by Taiwan Semiconductor Manufacturing Company (TSMC), which posted a record fourth-quarter profit. ASML, a Dutch semiconductor equipment maker, also saw a 7% pop.

The news of TSMC's record profit and ASML's surge in stock price is a positive sign for the European chip industry. TSMC's profit beat expectations, and the company's strong performance is expected to boost the entire semiconductor sector.

The European chip industry has been facing challenges in recent years, including the COVID-19 pandemic and supply chain disruptions. However, the industry has shown resilience and is expected to continue growing in the coming years.

The surge in European chip stocks is also a reflection of the growing demand for semiconductors in various industries, including automotive, consumer electronics, and industrial applications. The demand for semiconductors is expected to continue growing in the coming years, driven by the increasing adoption of technology and the growing need for more efficient and reliable electronics.

The news of TSMC's record profit and ASML's surge in stock price is a positive sign for the European chip industry and is expected to boost investor confidence in the sector.

Sources

[2] European chip stocks surge after TSMC posts record fourth-quarter profit; ASML pops 7%