Dernières nouvelles pour Taiwan Semiconductor (NYSE:TSM) Stock

Taiwan Semiconductor

Taiwan Semiconductor Manufacturing Co. is the world's largest dedicated chip foundry, with over 60% market share. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple, AMD, and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs. TSMC employs more than 73,000 people.

Taiwan Semiconductor Manufacturing Company Ltd.

Taiwan Semiconductor Manufacturing Co Ltd

Tesmec SpA

Thrivent ETF Trust Thrivent Small-Mid Cap ESG ETF

Tsumura & Co

AS TALLINNA SADAM by AS Tallinna Sadam

TAIWAN SEMICNDCTR MFG by Taiwan Semiconductor Manufacturing Co. Ltd.

Direxion Daily TSM Bull 2X Shares

Tidal Trust II YieldMax TSM Option Income Strategy ETF

Direxion Daily TSM Bear 1X Shares

TAIWAN SEMICONDUCTOR MNFTG ADR 5 ORD

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$140.00</td>
<td>$52.9K</td>
<td>130.5K</td>
<td>372.3K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$210.00</td>
<td>$33.8K</td>
<td>3.4K</td>
<td>43.0K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$157.50</td>
<td>$132.4K</td>
<td>9.6K</td>
<td>17.6K</td>
</tr>
<tr>
<td>ASML</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$700.00</td>
<td>$26.5K</td>
<td>1.3K</td>
<td>4.8K</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$190.00</td>
<td>$53.0K</td>
<td>3.9K</td>
<td>4.6K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$150.00</td>
<td>$107.2K</td>
<td>6.2K</td>
<td>2.5K</td>
</tr>
<tr>
<td>AVGO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$190.00</td>
<td>$29.5K</td>
<td>646</td>
<td>1.5K</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$135.00</td>
<td>$49.7K</td>
<td>156</td>
<td>1.5K</td>
</tr>
<tr>
<td>FRSH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>02/21/25</td>
<td>$10.00</td>
<td>$105.0K</td>
<td>2.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/25/24</td>
<td>$415.00</td>
<td>$33.0K</td>
<td>2.5K</td>
<td>955</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on October 18, 2024. Parties traded 504 contract(s) at a $140.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $52.9K, with a price of $105.0 per contract. There were 130533 open contracts at this strike prior to today, and today 372360 contract(s) were bought and sold. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a call option sweep that happens to be bullish, expiring in 1 day(s) on October 18, 2024. This event was a transfer of 137 contract(s) at a $210.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $33.8K, with a price of $247.0 per contract. There were 3464 open contracts at this strike prior to today, and today 43051 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bullish, expiring in 1 day(s) on October 18, 2024. This event was a transfer of 1025 contract(s) at a $157.50 strike. This particular put needed to be split into 84 different trades to become filled. The total cost received by the writing party (or parties) was $132.4K, with a price of $125.0 per contract. There were 9639 open contracts at this strike prior to today, and today 17680 contract(s) were bought and sold. 
• Regarding ASML (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), we observe a call option trade with neutral sentiment. It expires in 1 day(s) on October 18, 2024. Parties traded 30 contract(s) at a $700.00 strike. The total cost received by the writing party (or parties) was $26.5K, with a price of $884.0 per contract. There were 1354 open contracts at this strike prior to today, and today 4871 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a put option sweep that happens to be bearish, expiring in 1 day(s) on October 18, 2024. This event was a transfer of 265 contract(s) at a $190.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $53.0K, with a price of $200.0 per contract. There were 3966 open contracts at this strike prior to today, and today 4663 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option sweep that happens to be bullish, expiring in 246 day(s) on June 20, 2025. This event was a transfer of 150 contract(s) at a $150.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $107.2K, with a price of $715.0 per contract. There were 6267 open contracts at this strike prior to today, and today 2500 contract(s) were bought and sold. 
• Regarding AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we observe a put option trade with bearish sentiment. It expires in 1 day(s) on October 18, 2024. Parties traded 50 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $590.0 per contract. There were 646 open contracts at this strike prior to today, and today 1588 contract(s) were bought and sold. 
• For APP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), we notice a put option sweep that happens to be bullish, expiring in 127 day(s) on February 21, 2025. This event was a transfer of 38 contract(s) at a $135.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $49.7K, with a price of $1310.0 per contract. There were 156 open contracts at this strike prior to today, and today 1511 contract(s) were bought and sold. 
• Regarding FRSH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), we observe a call option trade with neutral sentiment. It expires in 127 day(s) on February 21, 2025. Parties traded 500 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $105.0K, with a price of $210.0 per contract. There were 2126 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option trade with bearish sentiment. It expires in 8 day(s) on October 25, 2024. Parties traded 50 contract(s) at a $415.00 strike. The total cost received by the writing party (or parties) was $33.0K, with a price of $660.0 per contract. There were 2513 open contracts at this strike prior to today, and today 955 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ASML

AVGO

FRSH

MSFT

MSTR

NVDA

10 Information Technology Stocks With Whale Alerts In Today's Session

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) stock surged after <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41377745/tsmc-on-cusp-of-topping-1-trillion-valuation-as-stock-jumps-8-in-premarket-whats-going-on" rel="noreferrer noopener">upbeat quarterly print</a> on Thursday.
The key Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier reported third-quarter revenue of 759.69 billion New Taiwan dollar ($23.50 billion), up 39%, topping $22.4 billion-$23.2 billion guidance and the consensus estimate.
The contract chipmaker attributed the quarterly performance to robust smartphone and AI-related demand for its 3nm and 5nm technologies.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41377782/nokia-q3-earnings-miss-ceo-cites-telecom-weakness-and-anticipates-india-demand-rebound" rel="noreferrer noopener">Nokia Q3: Earnings Miss, CEO Cites Telecom Weakness And Anticipates India Demand Rebound</a>
Its <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips" rel="noreferrer noopener">gross margin is</a> 57.8%, up from 54.3% a year ago. The operating margin grew to 47.5% from 41.7% a year ago. It expects fourth-quarter revenue of $26.1 billion-$26.9 billion, above the Street consensus of $24.86 billion.
Needham analyst Charles Shi reiterated Taiwan Semiconductor with a Buy and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/TSM/analyst-ratings" rel="noreferrer noopener">$210&nbsp;price target</a>.
Needham: By node, relative to Shi&#8217;s estimates, Taiwan Semiconductor&#8217;s third-quarter print shows a much more robust performance of 3nm and a slightly weaker performance of 5nm.
The analyst noted the 3nm upside should be primarily due to Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). In contrast, 5nm revenue is leveling off after six consecutive quarters of strong sequential growth.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17122217/newplot-15.png" alt="" class="wp-image-601214" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17122217/newplot-15.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17122217/newplot-15-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The gross margin performance, which is now back in the high 50s range, is a positive sign as Taiwan Semiconductor overcomes several cost challenges anticipated by management earlier this year, including 3nm dilution, 5nm to 3nm conversion cost, and electricity cost increases, he said.
Interestingly, the company had flagged 5nm and 3nm wafer prebuild as part of the reason for the gross margin upside, Shi added.
The analyst noted that Taiwan Semiconductor raised its full-year revenue growth target from &#8220;slightly above the mid-20s&#8221; to &#8220;close to 30%&#8221; while maintaining the 10% ex-memory semiconductor growth outlook.
Taiwan Semiconductor expects to triple AI revenue this year, which will account for mid-teens percent of its total revenue.
Based on management commentary, Shi estimates Taiwan Semiconductor&#8217;s AI revenue was around $4 billion in 2023 and will likely reach $13 billion in 2024.
Taiwan Semiconductor has guided AI to account for 20% of the total revenue by 2028, translating to ~$33 billion+ if the 15%+ total revenue CAGR continues through the next four years.
Taiwan Semiconductor&#8217;s reported revenue split between technology nodes suggests that the non-wafer revenue, the majority of which comes from packaging, saw a meaningful step up from $2.4 billion in the second quarter to $3.2 billion in the third quarter, a 36% increase sequentially.
This could be partially driven by Apple&#8217;s ramp that drives InFO revenue. Still, the magnitude of the sequential growth is above seasonality (~20% sequentially) and supports the rumor that Taiwan Semiconductor may have released 60%-80% more CoWoS capacity in the third quarter.
Taiwan Semiconductor expects 2024&#8217;s CapEx to be slightly above $30 billion, a $1 billion trim to 2024&#8217;s CapEx budget. Last quarter, it tightened the CapEx guidance range from $28 billion-$32 billion to $30 billion-$32 billion and effectively raised CapEx by about $1 billion.
On the bright side, with Taiwan Semiconductor reporting the quarterly CapEx for the first three quarters of the year to be only $6 billion per quarter, it needs to spend ~$12 billion CapEx in the fourth quarter. The magnitude of the step-up is likely driven by the initial 2nm buildout.
Price Action: TSM stock is up 11.7% at $209.41 at last check Thursday.
Also Read:
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</ul>
Photo by wakamatsu.h via Shutterstock

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AAPL

Apple's 3nm Push Boosts Taiwan Semi's Q3, AI Revenue Set To Triple: Analyst

A semiconductor rally pushed the S&amp;P 500 to new all-time highs on Thursday, with strong earnings from Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) boosting tech sentiment after a weak report from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41383732/stock-of-the-day-taiwan-semiconductor-breaks-out-as-buyers-push-prices-higher">earlier in the week.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 2.3%, leading sector gains. NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit fresh record highs, reaching $141 per share during the morning session.
The Nasdaq 100 outperformed major indices, while small caps underperformed as the Russell 2000 faced resistance at a key technical level. The Dow briefly touched a record high of 43,289 points before pulling back slightly.
On the macro front, September retail sales exceeded expectations, and jobless claims fell last week, reinforcing views of strong economic resilience. However, this also slightly hit hopes for Fed rate cuts as economists voiced doubts about the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">need for further easing in November.</a>
The U.S. dollar strengthened, with the dollar index (DXY) climbing to levels last seen in early August. The euro fell 0.4% as the European Central Bank cut interest rates amid weak economic data and ongoing disinflation.
Gold prices, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.5%, setting new records despite rising Treasury yields. The 10-year Treasury yield gained 8 basis points to 4.10%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slid 1.6%, marking its worst session since early August.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.4%, taking a breather after four consecutive sessions of gains.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,304.26</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,865.46</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,231.61</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.25</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $584.45.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.4% higher to $432.52.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 0.7% to $494.15.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $226.02.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Semiconductor stocks rallying Thursday on the heels of strong TSM earnings were Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), up 4%; Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), up 4%; Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), up 3.6% and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), up 3.1%.</li>
<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) soared over 7% to fresh record highs after a strong quarterly report. </li>
<li>Other stocks reacting to company earnings included CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), down 6%; Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), up 0.1%; Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), up 2%; Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), down 2.5%; Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), up 6%; Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), down 3%; Marsh &amp; McLennan Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up 0.1%; Elevance Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 12%; Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 8%; Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1.2%; M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), up 5%; Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8% and KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 1.5%.</li>
<li>Companies slated to report their earnings after the close include Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>). </li>
</ul>
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$BTC

SPDR Dow Jones Industrial Average ETF Trust

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

HBAN

ISRG

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NFLX

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

STLD

iShares Trust Barclays 20+ Year Treasury Bond Fund

Chipmakers Rally, Nvidia Smashes Records On TSMC Blowout Earnings, Gold Hit All-Time Highs: What's Driving Market Thursday?

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-17_08h26_38.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Nvidia May Be Next</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-ai-chip-manufacturer-nvidia-consumer-splurges-tsm-mc-10172024">click here </a>for an enlarged chart of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of TSM stock is being used to illustrate the point.</li>
<li>TSM is the largest semiconductor foundry in the world for advanced semiconductors. TSM manufactures chips for the likes of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).</li>
<li>The chart shows the support/resistance zone. This was previously the resistance zone.</li>
<li>The chart shows that TSM has broken out in the early trade after reporting earnings. If the breakout sustains, this zone will become the support zone.</li>
<li>RSI on the chart shows that there is room for the stock to run.</li>
<li>Going into earnings, whisper numbers for TSM were creeping up above the consensus. Whisper numbers are numbers that analysts privately provide to their best clients. Whisper numbers are often different from the numbers the same analysts publish for public consumption. Stocks move based on the difference between whisper numbers and the reported numbers. TSM reported numbers better than the whisper numbers.</li>
<li>Here is the most important question for prudent investors: How do you reconcile ASML Holding NV (NASDAQ: ASML) earnings (please see <a href="https://blog.thearorareport.com/nvidia-101624/">yesterday's Morning Capsule</a>) with TSM earnings? The answer is that TSM is more leveraged to AI, including Nvidia. This is the reason that The Arora Report gave a signal for a trade around position on NVDA stock earlier for aggressive investors.  The trade around position is separate and distinct from the core NVDA position that is long from $12.55.  </li>
<li>The consumer is splurging again after a brief pullback. Prudent investors pay attention to consumers because the U.S. economy is 70% consumer based. Here is the latest retail sales data.
<ul>
<li>Headline retail sales came at 0.4% vs.-0.2% consensus.</li>
<li>Retail sales ex-auto came at 0.5% vs. 0.1% consensus.</li>
</ul>
</li>
<li>Initial jobless claims came at 241K vs. 270K consensus.</li>
<li>Bonds are falling on the strong economic data.</li>
<li>The retail sales data and the jobless claims data adds to the other data that shows the Fed cut spiked the punch with the 50 bps interest rate cut.
<ul>
<li>Before the Fed rate cut, we shared with you in The Arora Report analysis that the data justified a 25 bps rate cut.&nbsp; The latest data shows that The Arora Report call was spot on, just like almost all Arora calls related to the Fed and the economy over the last 17 years.</li>
</ul>
</li>
<li>The Fed's job is to maintain stability and not to spike the punch. As a matter of fact, the Fed's job is to take the punch bowl away.</li>
<li>In The Arora Report analysis, the reason that the stock market has not yet experienced the usual seasonal downturn in September and October is that the Fed spiked the punch in going against the hard data.&nbsp;&nbsp;</li>
<li>In earnings of note, Elevance Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), one of the largest licensee of Blue Cross Blue Shield, reported worse than expected earnings. The stock is down about 15% as of this writing in the premarket. As a reminder, previously, the nation's largest healthcare insurer UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) also reported rising medical costs.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Nvidia (NVDA), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Apple (AAPL).
In the early trade, money flows are neutral in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ. Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil. The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>). The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is seeing buying on optimism that Trump will be elected.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

Markets

General

AMZN

GOOG

TSLA

AI Chip Manufacturer Breaks Out – Nvidia May Be Next, Consumer Splurges, Fed Spiked The Punch

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) are trading higher after the company reported earnings <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">that beat expectations</a>.
Many analysts overthink the markets and make things more complicated than necessary. They forget that markets are driven by supply and demand.
If there isn't enough supply of shares for sale, buyers cannot fulfill their buy orders or meet their demand. As a result, they may have no choice but to offer successively higher prices to attract sellers into the market.
This trading action forces the shares into an uptrend.
When a stock reaches a resistance level, the dynamic changes. There is more than enough supply (sell orders) than there is demand (buy orders). Investors and traders can buy all the shares they need without driving the price any higher.
Sometimes stocks reverse and head lower after reaching resistance. This happens when some of the people who wish to sell become concerned that other sellers will undercut them. They know that the buyers will go to whoever is willing to sell at the lowest price.
So, these concerned sellers reduce the prices at which they are willing to sell. Other concerned sellers see this and do the same thing. This can result in a snowball effect that pushes the price lower.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41381558/netflix-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Netflix Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
But sometimes when a stock reaches resistance, the buyers overpower the sellers and push the price higher. Traders refer to this as a breakout. And as you can see on the chart, Tawain Semi appears to be breaking out.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="630" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17105138/tsm-chart-1024x630.png" alt="" class="wp-image-600987" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17105138/tsm-chart-1024x630.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17105138/tsm-chart-300x185.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17105138/tsm-chart-768x472.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17105138/tsm-chart.png 1182w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Breakouts can illustrate an important dynamic. If the price is higher than the resistance level, it means that the traders and investors who created the resistance with their sell orders have canceled or completed their orders.
Regardless, they have left the market.
With this large amount of supply out of the way, the market will be out of equilibrium. The buyers will again be forced to push the price higher if they want to acquire shares.
This means <a href="https://www.benzinga.com/quote/TSM">Taiwan Semi </a>may be entering a new uptrend.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41377745/tsmc-on-cusp-of-topping-1-trillion-valuation-as-stock-jumps-8-in-premarket-whats-going-on">European Central Bank Lowers Interest Rates Again, First Back-To-Back Cuts In 13 Years</a></li>
</ul>
Photo: Shutterstock

Technicals

Stock Of The Day: Taiwan Semiconductor Breaks Out As Buyers Push Prices Higher

U.S. stocks were higher, with the Dow Jones index gaining around 100 points on Thursday.
Shares of The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) rose sharply during Thursday's session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/10/41379650/travelers-q3-triumph-strong-premium-growth-and-underwriting-gains-propel-massive-earnings-beat">third-quarter results</a>.
The Travelers Companies reported third-quarter revenue growth of 12% year-over-year to $11.904 billion, beating the consensus of $11.491 billion. Core income per share jumped 169% to $5.24, beating the $3.64 consensus estimate.
Travelers gained 6.9% to $259.63 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Gevo, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>) gained 27.6% to $2.87 after the company announced it secured a DOE conditional commitment loan of $1.46 billion for its net-zero 1 sustainable aviation fuel plant in South Dakota.</li>
<li>Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) gained 16.2% to $35.09 after the company reported better-than-expected third-quarter revenue results and raised its FY24 OEBITDA guidance.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) climbed 15.2% to $19.60.</li>
<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>) gained 14.7% to $88.74.</li>
<li>SelectQuote, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLQT#NYSE">SLQT</a>) shares gained 14.6% to $2.58 after the company announced it completed the first phase of recapitalization with $100 million securitization transaction.</li>
<li>Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) gained 12.6% to $211.14 following a third-quarter earnings beat and strong fourth-quarter guidance.</li>
<li>Amicus Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOLD#NASDAQ">FOLD</a>) gained 11.1% to $11.67 after the company announced it entered into a license agreement with Teva and resolved its Galafold patent litigation.</li>
<li>Webster Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) climbed 8.5% to $52.76 following third-quarter results.</li>
<li>Cohen &amp; Steers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) gained 7.7% to $109.00 after UBS upgraded the stock from Sell to Neutral and raised its price target from $63 to $102.</li>
<li>Uranium Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UEC#NYSE">UEC</a>) gained 7.3% to $8.54. Uranium Energy increased licensed production capacity to 4 million pounds of U3O8 PER YEAR AT the Irigaray Processing Plant.</li>
<li>Snap-on Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNA#NYSE">SNA</a>) climbed 7.2% to $319.43 after the company reported better-than-expected third-quarter adjusted EPS results.</li>
<li>GrafTech International Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAF#NYSE">EAF</a>) gained 7% to $1.6900.</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) climbed 4.6% to $157.78 following a report suggesting Uber explored a takeover bid for the company.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41377581/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yiel">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>

Intraday Update

EXPE

FOLD

GEVO

IRDM

SLQT

Travelers Posts Upbeat Results, Joins Iridium Communications, Snap-on And Other Big Stocks Moving Higher On Thursday

Shares of Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) surged 4% during Thursday&#8217;s pre-market session in sympathy with Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), but have since leveled off and are trading slightly higher.
TSMC&#8217;s impressive <a href="https://www.benzinga.com/markets/equities/24/10/41377745/tsmc-on-cusp-of-topping-1-trillion-valuation-as-stock-jumps-8-in-premarket-whats-going-on">quarterly earnings report</a> highlighted a 39% year-over-year revenue increase driven by strong demand for advanced chips used in smartphones and artificial intelligence (AI).
What Happened: As TSMC&#8217;s revenue for the quarter exceeded both its <a href="https://www.benzinga.com/quote/TSM/earnings">own guidance and Wall Street expectations</a>, the broader market sentiment has shifted positively for semiconductor companies with exposure to high-performance chip technologies
Marvell, known for its leadership in data infrastructure semiconductor solutions, stands to benefit from the same tailwinds that have propelled TSMC. With a focus on AI, cloud computing, 5G, and data center markets, Marvell&#8217;s position in the supply chain makes it a key player in the industry, particularly as demand for cutting-edge chips continues to accelerate.
Read Also: <a href="https://www.benzinga.com/news/24/10/41379867/european-central-bank-lowers-interest-rates-again-first-back-to-back-cuts-in-13-years">European Central Bank Lowers Interest Rates Again, First Back-To-Back Cuts In 13 Years</a>
TSMC&#8217;s report emphasized the rapid growth in demand for 3-nanometer and 5-nanometer node technologies, which are critical for high-performance applications like AI and data processing. This directly aligns with Marvell&#8217;s product offerings, especially in custom-designed chips for data centers and AI applications. 
What Else: Marvell has been expanding its portfolio to cater to the increasing needs of cloud service providers and telecommunications companies, which require more powerful, energy-efficient processors. The spillover effect from TSMC&#8217;s strong results, particularly in AI-driven markets, may lead investors to reassess Marvell&#8217;s growth potential in these areas.
Additionally, TSMC's strong guidance for the fourth quarter signals sustained demand in advanced chip manufacturing, providing further confidence that Marvell&#8217;s growth trajectory could benefit from a robust semiconductor cycle.
Read Also: <a href="https://www.benzinga.com/news/retail-sales/24/10/41379775/september-retail-sales-exceed-estimates-jobless-claims-fall-more-than-expected">September Retail Sales Exceed Estimates, Jobless Claims Fall More Than Expected</a>
<h2 class="wp-block-heading">Is MRVL A Good Stock To Buy?</h2>
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Marvell Tech has reported average annual revenue growth of 19.71% over the past 5 years. Looking forward, the company most recently said it expects FY24 revenues of $5.54B.
It's also important to pay attention to valuation when deciding whether to buy a stock. Marvell Tech has a forward P/E ratio of 33.0. This means investors are paying $33.0 for each dollar of expected earnings in the future. The average forward P/E ratio of Marvell Tech's peers is 32.71.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out <a href="https://pro.benzinga.com">Benzinga PRO</a>.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, MRVL has a 52-week high of $85.76 and a 52-week low of $46.07.

MRVL

What's Going On With Marvell Technology (MRVL) Stock?

Benzinga Market Summary: ECB Cuts Rates, Chip Stocks Gain After Strong Guidance From TSM, Sept. Retail Sales Beat Estimates

Retail sales in September exceeded expectations, highlighting strong consumer spending and reinforcing positive signals for broader economic growth <a href="https://www.benzinga.com/topic/economics">as the third quarter wrapped up</a>.
Simultaneously, the latest labor market data saw a decline in jobless claims rose during the week ending Oct. 12.
<h3 class="wp-block-heading">September Retail Sales Report: Key Highlights</h3>
<ul>
<li>Retail sales increased by 0.4% in September from the previous month, surpassing both the 0.3% economist consensus, as per TradingEconomics, and the 0.1% growth in August.</li>
<li>On a year-over-year basis, retail sales decelerated, down to 1.7% compared to 2.2% in August.</li>
<li>Excluding motor vehicles and parts, retail sales grew 0.5% month-over-month, exceeding the forecasted 0.1% increase and the upwardly revised 0.2% growth in August.</li>
<li>Stripping out gasoline, motor vehicles, and parts, sales climbed by a robust 0.7% in September, a sharp improvement from the upwardly revised 0.3% gain in August.</li>
<li>Among spending categories, the largest monthly gains were recorded in miscellaneous store retailers, up 4%, and clothing &amp; clothing accessories stores, up 1.5%.</li>
<li>Conversely, gasoline station, electronics and appliance stores experienced the steepest monthly decline, with sales dropping by 1.6% and 3.3%, respectively.</li>
</ul>
<h3 class="wp-block-heading">Weekly Unemployment Claims: Key Highlights</h3>
<ul>
<li>Initial jobless claims came in at 241,000, coming in below a consensus estimate of 260,000 claims, per TradingEconomics, and the prior week&#8217;s upwardly revised 260,000 figure. </li>
<li>The four-week average of claims rose from 231,500 to 236,250.</li>
<li>Continuing claims, reflecting those still receiving benefits after an initial week of aid, rose slightly to 1.867 million, remaining above the 1.87 million expected.</li>
<li>States hardest hit by the increase in jobless claims include Georgia, where claims rose by 3,100 and Pennsylvania, with a surge of 1,300. </li>
<li>Surprisingly, Florida recorded a decline of over 3,000 claims during the week, showing the Hurricane Milton had no major disruption on the region&#8217;s labor market.</li>
</ul>
<h3 class="wp-block-heading">Market Reactions: Stocks Rise Fueled By Chipmakers, Dollar Strengthens On ECB Cut</h3>
Stocks rallied in premarket trading on Thursday, driven by a tech-led surge that boosted futures for the S&amp;P 500 and Nasdaq 100.
Futures on the S&amp;P 500 climbed 0.5%, while Nasdaq 100 contracts advanced 1%, with semiconductor stocks leading the charge. Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) soared nearly 9% on strong earnings, propelling the sector higher.
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) was up 3% on the news. 
Meanwhile, the U.S. dollar strengthened by 0.2% following the European Central Bank's 25-basis-point rate cut, as the ECB signaled that disinflation was &#8220;well on track.&#8221;
Treasury yields rose in response to stronger-than-expected retail sales and lower-than-predicted jobless claims. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41377257/wall-street-poised-to-open-higher-as-tsmc-earnings-expected-to-kick-off-rally-in-tech-stocks-strate">Wall Street Poised To Open Higher As TSMC Earnings Expected To Kick Off Rally In Tech Stocks: Strategist Says AI Trade Will Have Legs Even In Case Of Recession In 2025</a></li>
</ul>
Photo via Shutterstock.

September Retail Sales Exceed Estimates, Jobless Claims Fall More Than Expected

NIXX: 338% &#x7C; <a href="https://www.benzinga.com//node/41375650">Nixxy Provided An Update On Its Strategy To Acquire Businesses In Traditional Markets And Enhance Operations With Technology And Data Analytics, Includes Acquiring Established Standalone Businesses With Stable Operations And Profitability</a>
&nbsp;
PIXY: 253% &#x7C; <a href="https://www.benzinga.com//node/41378253">ShiftPixy Acquires TurboScale In A $150M Deal, Structured With $75M In. Stock And $75M In Debt</a>
&nbsp;
TSM: 9.75% &#x7C; <a href="https://www.benzinga.com//node/41376563">Taiwan Semiconductor shares are trading higher following a Q3 earnings beat and strong Q4 guidance.</a>

NIXX

PIXY

Market-Moving News for October 17th

<h3>Gainers</h3>
<ul>
<li>My Size (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYSZ#NASDAQ">MYSZ</a>) shares moved upwards by 18.4% to $1.87 during Thursday's pre-market session. The company's market cap stands at $1.9 million. </li>
<li>Phunware (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHUN#NASDAQ">PHUN</a>) stock moved upwards by 11.35% to $7.06. The market value of their outstanding shares is at $80.0 million. </li>
<li>Abits Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABTS#NASDAQ">ABTS</a>) stock increased by 11.11% to $0.5. The company's market cap stands at $17.7 million. </li>
<li>Alarum Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAR#NASDAQ">ALAR</a>) stock moved upwards by 9.37% to $18.2. The company's market cap stands at $125.0 million. </li>
<li>Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) stock rose 9.35% to $205.01. The market value of their outstanding shares is at $1.0 trillion. The company's, Q3 earnings came out today. </li>
<li>Infobird Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IFBD#NASDAQ">IFBD</a>) shares increased by 8.62% to $2.14. The market value of their outstanding shares is at $4.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Firefly Neuroscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIFF#NASDAQ">AIFF</a>) shares declined by 17.1% to $3.4 during Thursday's pre-market session. The company's market cap stands at $24.9 million. </li>
<li>Saiheat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIH#NASDAQ">SAIH</a>) shares decreased by 10.11% to $0.85. The company's market cap stands at $20.9 million. </li>
<li>Pixelworks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXLW#NASDAQ">PXLW</a>) shares declined by 8.36% to $0.78. The market value of their outstanding shares is at $45.6 million. </li>
<li>Sobr Safe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) stock fell 8.09% to $7.28. The market value of their outstanding shares is at $2.2 million. </li>
<li>ZenaTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) shares declined by 6.95% to $2.29. The market value of their outstanding shares is at $40.4 million. </li>
<li>Comtech Telecom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>) shares declined by 6.5% to $4.1. The market value of their outstanding shares is at $116.8 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ABTS

AIFF

ALAR

CMTL

IFBD

MYSZ

PHUN

PXLW

SAIH

SOBR

ZENA

12 Information Technology Stocks Moving In Thursday's Pre-Market Session

Shares of foundry Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) rose <a href="https://www.benzinga.com/premarket">in premarket trading</a> on Thursday, positioning the company on track to cross the $1 trillion market capitalization threshold.
Hsinchu, Taiwan-based <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">TSMC reported a 39% year-over-year and 12.8% sequential increase in revenue</a> to NT$759.69 billion ($23.50 billion), exceeding the company&#8217;s guidance of $22.4 billion to $23.2 billion and the consensus estimate. Strong smartphone and AI-related demand for more advanced 3-nanometer and 5-nm processor node technologies fueled the top-line growth.
These high-performance, high-value chips also drove margin expansion from the year-ago and previous quarters. As such, the bottom line jumped 54% to NT$12.54 per share ($1.94), exceeding Street expectations. 
The company guided to fourth-quarter revenue of $26.1 billion to $26.9 billion, while the Street was modeling a far more modest $24.86 billion.
In premarket trading, U.S.-listed ADRs of TSMC soared 8.47% to $203.36, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> The positive sentiment has proved contagious and has perked up the <a href="https://www.benzinga.com/markets/equities/24/10/41375295/why-nvidia-amd-micron-arm-and-other-chipmakers-are-ripping-higher-premarket-on-thursday">semiconductor space as a whole</a>.
If the positive sentiment toward TSMC carries over into the regular session, the company&#8217;s valuation could shoot past $1 trillion. The company is currently the ninth most valued by market capitalization in the world.
See Also: <a href="https://www.benzinga.com/money/best-semiconductor-stocks">Best Semiconductor Stocks</a>
Photo courtesy: Shutterstock

Long Ideas

TSMC On Cusp Of Topping $1 Trillion Valuation As Stock Jumps 8% In Premarket: What's Going On

Technology stocks, specifically chipmakers, could lead from the front on Thursday as a<a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips"> stellar third-quarter earnings report </a>from Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is triggering positive sentiment toward all artificial intelligence plays. Oil prices have rebounded and gold traded at a fresh record, while bond yields held steady ahead of a slew of market-moving data that include retail sales, a regional manufacturing activity index, industrial production, and jobless claims.
Earnings news could provide an offsetting impact in the eventuality of the market construing the economic data as inclement. Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is the first among the mega-cap earnings due after the market close and the results could evince interest among traders and set the tone for the tech reporting season.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.09%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.42% to $584.76 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.83% to $495, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Small-caps ripped higher on Wednesday, extending their recent gains amid hopes of a benign economic environment but the major averages opened on a tentative note. Solid earnings reports from financial companies and strong gains by real-estate and utility stocks helped the major indices close firmly in the green.
The Dow Jones Industrial Average turned solidly higher immediately after spending the better part of the session above the unchanged line. The 30-stock blue-chip average ended at a fresh high, although it did not have enough momentum to break above its Oct. 15 intraday high of 43,277.78.
The S&amp;P 500 Index and the Nasdaq Composite had a lackluster first-half before picking up momentum in the afternoon. 
Of the 11 S&amp;P 500 sector classes, only communication services and consumer discretionary stocks declined in Wednesday&#8217;s session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.28%</td>
<td>18,367.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.47%</td>
<td>5,842.47</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.79</td>
<td>43,077.70</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.64%</td>
<td>2,286.68</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Delving into the small-cap rally that has been on, LPL Financial Chief Technical Strategist Adam Turnquist said after being stuck in a consolidation phase over the past few months, small-caps have picked up some momentum in recent sessions, with the growth outlook recently improving — underpinned by better-than-feared labor market conditions — and increased visibility into Fed rate cuts, he said.
The strategist noted that the Russell 2,000 Index, or RTY, has rallied off the lower end of its rising price channel. &#8220;Recent strength in the banking space — the RTY's largest sector by weighting — has further supported small caps,&#8221; he said.
Technically, a close above 2,275 would confirm a breakout from its current symmetrical triangle and leave&nbsp;the 2021 highs (2,243)&nbsp;as the next resistance hurdle to clear, Turnquist said, adding that momentum indicators have also recently turned bullish, adding to the evidence of a topside breakout.
&#8220;Despite the improving absolute performance, the RTY vs. S&amp;P 500 ratio chart still remains in a downtrend and below its declining 200-day moving average (DMA),&#8221; he said. A close above the July highs would validate a trend reversal in favor of small caps outperforming, he added.
Meanwhile, a fund manager thinks AI-levered companies could be defensive plays. Louis Navellier said, &#8220;Semiconductor demand has become the new proxy for global growth trends, being incorporated into almost everything, and also has geopolitical implications with technology export controls in place and China continuing to saber rattle about taking Taiwan back.&#8221;
&#8220;The upshot here is the inference that AI will still have legs even if we slide into a global recession in &#8217;25,&#8221; he added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claim report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment insurance to come in at 260,000 in the week ended Oct. 12, up from 258,000 in the previous week.</li>
<li>The Commerce Department will release its September retail sales report at 8:30 a.m. EDT. The consensus estimates call for a 0.3% month-over-month increase in headline retail sales and a more modest 0.1% rise in retail sales, excluding the volatile auto sales. This compares to 0.1% increases for both in August.</li>
<li>The Philadelphia Fed is due to release the results of its manufacturing survey at 8:30 a.m. EDT. The diffusion index of business activity is expected to rise from 1.7 in September to 3 in October.</li>
<li>The Federal Reserve will release its industrial production report for September at 9:15 a.m. EDT. The consensus estimate models a 0.2% month-over-month decline in industrial output compared to 0.8% growth in August. </li>
<li>The Commerce Department&#8217;s business inventories report, due at 10 a.m. EDT, is expected to show a 0.3% month-over-month increase in business inventories for August, slightly slower than July&#8217;s 0.4% increase.</li>
<li>The National Association of Home Builders will release its housing market index for October at 10 a.m. EDT. The headline index, which measures confidence among homebuilders, is expected to rise a point from September to 42. A reading below 50 suggests a lack of confidence.</li>
<li>The Energy Information Administration will release its weekly oil inventories report at 11 p.m. EDT.</li>
<li>The Treasury is scheduled to auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) climbed nearly 5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the aluminum maker&#8217;s quarterly results, and TSMC surged up over 8% on a beat-and-raise quarter.</li>
<li>Other stocks moving on earnings are CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) (down about 5%) Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) (down nearly 6%), and Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (up over 3%).</li>
<li>Blackstone Inc. (BX), Marsh &amp; McLennan Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), and M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) are among the noteworthy <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market opening.</a></li>
<li>Those reporting after the close include Netflix, Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), WD-40 Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>), and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>).</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) climbed over 7.7% on the news that Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) might be interested in buying the company.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) plunged over 15% on a common stock offering.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are reversing course and were up modestly after their recent pullback and gold futures traded at a record. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped over 1% over the past 24 hours and was at a sub-$67K level.
The 10-year U.S. Treasury note yield was little changed at 4.036%.
The Asian markets ended mixed on Wednesday, as the Japanese, Chinese, Hong Kong, Indian, and South Korean markets retreated. Most other markets ended on a firm note, tracking higher energy prices and the positive close on Wall Street overnight.
European stocks traded in the green in the early hours, thanks to earnings optimism.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41375637/market-very-convinced-of-a-trump-win-says-stanley-druckenmiller-why-billionaire-inv">Market &#8216;Very Convinced&#8217; Of A Trump Win, Says Stanley Druckenmiller: Why Billionaire Investor Thinks Blue Sweep Is &#8216;Highly Unlikely&#8217;</a></li>
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Photo courtesy: Shutterstock

Earnings

Futures

Previews

Pre-Market Outlook

LCID

UBER

WDFC

Wall Street Poised To Open Higher As TSMC Earnings Expected To Kick Off Rally In Tech Stocks: Strategist Says AI Trade Will Have Legs Even In Case Of Recession In 2025

WIIM

Taiwan Semiconductor shares are trading higher following a Q3 earnings beat and strong Q4 guidance.

Needham analyst Charles Shi reiterates Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) with a Buy and maintains $210 price target.

Needham Reiterates Buy on Taiwan Semiconductor, Maintains $210 Price Target

Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) rose sharply in today's pre-market trading following <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">better-than-expected quarterly results.</a>
TSMC reported consolidated third-quarter revenue of NT$759.69 billion ($23.50 billion), up 39% year-over-year. Sequentially, the top line expanded by 12.8%. In dollar terms, the revenue growth was 36% year-over-year and 12.9% quarter-over-quarter. Revenue topped the NT$748 billion consensus, as provided by Bloomberg.
Taiwan Semiconductor Manufacturing shares jumped 8.1% to $202.75 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Staffing 360 Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAF#NASDAQ">STAF</a>) rose 354.4% to $6.27 in pre-market trading after gaining over 7% on Wednesday.</li>
<li>VS MEDIA Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSME#NASDAQ">VSME</a>) gained 165.7% to $5.90 in pre-market trading after jumping around 128% on Wednesday.</li>
<li>Brera Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BREA#NASDAQ">BREA</a>) shares surged 144.1% to $1.70 in pre-market trading.</li>
<li>Molecular Templates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTEM#NASDAQ">MTEM</a>) gained 105% to $0.6672 in pre-market trading. Molecular Templates recently announced it approved the liquidation and wind-up of the company.</li>
<li>1847 Holdings LLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NASDAQ">EFSH</a>) rose 61.3% to $2.71 in pre-market trading after jumping 24% on Wednesday.</li>
<li>Gevo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>) shares jumped 36.9% to $3.08 in pre-market trading after the company announced it secured a DOE conditional commitment loan of $1.46 billion for its net-zero 1 sustainable aviation fuel plant in South Dakota.</li>
<li>Klotho Neurosciences, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLTO#NASDAQ">KLTO</a>) climbed 29.9% to $0.7297 in pre-market trading after jumping 15% on Wednesday. Klotho Neurosciences recently tapped Peter Moriarty of Shire Pharma as COO.</li>
<li>Fresh Vine Wine, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VINE#NYSE">VINE</a>) shares rose 22.4% to $0.97 in pre-market trading after gaining around 7% on Wednesday. The company recently announced the acquisition of Adifex.</li>
<li>Calumet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) gained 21.7% to $26.69 in pre-market trading after the company announced its subsidiary, Montana Renewables secured a $1.44 billion conditional commitment from the DOE for renewable fuels and biomass energy facility.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Santech Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEC#NASDAQ">STEC</a>) shares dipped 38.5% to $1.66 in pre-market trading after jumping around 647% on Wednesday.</li>
<li>180 Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNF#NASDAQ">ATNF</a>) shares fell 29.1% to $4.59 in pre-market trading. 180 Life Sciences shares jumped 325% on Wednesday after the company announced it is planning to enter the online gaming industry with its newly acquired gaming technology platform.</li>
<li>Versus Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VS#NASDAQ">VS</a>) fell 29.1% to $2.79 in today's pre-market trading. Versus Systems shares jumped 250% on Wednesday after the company announced a $2.5 million investment and licensing agreement with ASPIS.</li>
<li>Carmell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTCX#NASDAQ">CTCX</a>) fell 25.1% to $0.4710 in pre-market trading. Carmell shares surged around 68% on Wednesday after the company in a FormRW filing disclosed that it decided to not pursue the offering due to business decisions and confirmed that no securities covered by the Registration Statement have been issued or sold and that the SEC did not declare the Registration Statement effective.</li>
<li>Fangdd Network Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUO#NASDAQ">DUO</a>) shares declined 22.4% to $1.11 in pre-market trading after jumping 55% on Wednesday. Fangdd Network Group, last week, said it regained compliance status with the Nasdaq regarding its minimum bid price requirement.</li>
<li>Quoin Pharmaceuticals, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNRX#NASDAQ">QNRX</a>) declined 20.2% to $0.6291 in pre-market trading after jumping 56% on Wednesday.</li>
<li>SAIHEAT Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIH#NASDAQ">SAIH</a>) shares fell 19.8% to $0.7570 after jumping 64% on Wednesday.</li>
<li>Gritstone bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTS#NASDAQ">GRTS</a>) shares declined 16.6% to $0.0500 in pre-market trading after falling over 12% on Wednesday.</li>
<li>ProQR Therapeutics N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRQR#NASDAQ">PRQR</a>) shares fell 16.2% to $3.37 in pre-market trading after surging 122% on Wednesday.</li>
<li>Lucid Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) fell 14.6% to $2.80 in pre-market trading after the company announced a public offering of common stock, along with a corresponding investment by an affiliate of the Public Investment Fund.</li>
</ul>
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ATNF

BREA

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KLTO

MTEM

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Why TSMC Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket

Guidance

Taiwan Semiconductor Expects 4Q Revenue Of $26.10B-$26.90B Vs $24.86B, Gross Margin Of 57%-59%, Operating Margin Of 46.5%-48.5%

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>) announced quarterly results that came in ahead of forecasts, thanks to strong demand for advanced processor node technologies used in artificial intelligence applications. The foundry, which supplies chips to most global corporations including Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), guided fourth-quarter revenue sharply above the consensus.
TSMC&#8217;s Key Q3 Metrics: Hsinchu, Taiwan-based TSMC reported consolidated third-quarter revenue of NT$759.69 billion ($23.50 billion), up 39% year-over-year. Sequentially, the top line expanded by 12.8%. In dollar terms, the revenue growth was 36% year-over-year and 12.9% quarter-over-quarter.
Revenue topped the NT$748 billion consensus, as provided by Bloomberg.
The top-line performance also exceeded the company&#8217;s guidance of $22.4 billion- $23.2 billion.
TSMC said its business was supported by strong smartphone and AI-related demand for our industry leading 3nm and 5nm technologies.
Net income and earnings per share climbed a steeper 54.2% each to NT$325.26 billion and NT$12.54 per share ($1.94), respectively. Analysts, on average, expected a net profit of NT $300.2 billion, according to LSEG estimate available through Reuters.
The company said 3-nm accounted for 20% of the total revenue, while 5-nm and 7-nm technologies accounted for 32% and 17%, respectively. The more advanced technologies together made up 69% of the total wafer revenue, up from 67% in the previous quarter.
&#8220;Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies," said Wendell Huang, Senior VP and Chief Financial Officer of TSMC.
See Also: <a href="https://www.benzinga.com/money/best-semiconductor-stocks">Best Semiconductor Stocks</a>
Margin Profile: Here&#8217;s how margins compare to the prior-year periods:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q3&#8217;24</td>
<td>Q2&#8217;24</td>
<td>Q3&#8217;23</td>
</tr>
<tr>
<td>Gross Margin</td>
<td>57.8%</td>
<td>53.2%</td>
<td>54.3%</td>
</tr>
<tr>
<td>Operating Margin</td>
<td>47.5%</td>
<td>42.5%</td>
<td>41.7%</td>
</tr>
<tr>
<td>Net Profit Margin</td>
<td>42.8%</td>
<td>36.8%</td>
<td>38.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Company statement</figcaption></figure>
TSMC&#8217;s End-Market Performance: High-performance computing accounted for 51% of the total revenue and smartphone 34%. The fastest quarter-over-quarter growth was in IoT.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Contribution to revenue</td>
<td>Q-o-Q growth</td>
</tr>
<tr>
<td>HPC</td>
<td>51%</td>
<td>+11%</td>
</tr>
<tr>
<td>Smartphone</td>
<td>34%</td>
<td>+16%</td>
</tr>
<tr>
<td>IoT</td>
<td>7%</td>
<td>+35%</td>
</tr>
<tr>
<td>Automotive</td>
<td>5%</td>
<td>+6%</td>
</tr>
<tr>
<td>DCE</td>
<td>1%</td>
<td>-16%</td>
</tr>
<tr>
<td>Others</td>
<td>2%</td>
<td>+8%</td>
</tr>
</tbody>
</table>
</figure>
TSMC&#8217;s Outlook: TSMC guided to fourth-quarter revenue of $26.1 billion to $26.9 billion. The guidance is well above the $24.86 billion consensus estimate. Huang said, &#8220;Moving into fourth quarter 2024, we expect our business to continue to be supported by strong demand for our leading-edge process technologies.&#8221;
Assuming an exchange rate of NT$32 for one USD, the company expects gross and operating profit margins of 57%-59% and 46.5%-48.5%, respectively.
TSMC Stock: The AI euphoria has driven shares of companies levered to the technology sharply higher and TSMC is no exception. The Taiwanese company&#8217;s ADRs listed on the NYSE are up over 82% for the year-to-date period. It ended Wednesday&#8217;s session up 0.19% at $187.48, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Photo by Sundry Photography on Shutterstock
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TSMC

Nvidia Supplier TSMC Q3 Trumps Estimates On Strong AI Chip Demand, Guides Q4 Above Consensus (UPDATED)

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported quarterly earnings of $1.94 per share which beat the analyst consensus estimate of $1.77 by 9.6 percent. This is a 50.39 percent increase over earnings of $1.29 per share from the same period last year. The company reported quarterly sales of $23.500 billion which beat the analyst consensus estimate of $23.096 billion by 1.75 percent. This is a 36.00 percent increase over sales of $17.280 billion the same period last year.

Earnings Beats

Taiwan Semiconductor Q3 2024 GAAP EPS $1.94 Beats $1.77 Estimate, Sales $23.500B Beat $23.096B Estimate

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is gearing up to announce its quarterly earnings on Thursday, 2024-10-17. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Taiwan Semiconductor will report an earnings per share (EPS) of $1.80.
Taiwan Semiconductor bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS beat by $0.10, leading to a 3.55% drop in the share price on the subsequent day.
Here's a look at Taiwan Semiconductor's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.38</td>
<td>1.31</td>
<td>1.37</td>
<td>1.17</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.48</td>
<td>1.38</td>
<td>1.44</td>
<td>1.29</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-4.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729112424_0.png" alt="eps graph" />
<h3>Market Performance of Taiwan Semiconductor's Stock</h3>
Shares of Taiwan Semiconductor were trading at $187.13 as of October 15. Over the last 52-week period, shares are up 101.79%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analysts' Perspectives on Taiwan Semiconductor</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Taiwan Semiconductor.
The consensus rating for Taiwan Semiconductor is Outperform, based on 3 analyst ratings. With an average one-year price target of $236.67, there's a potential 26.47% upside.
<h3>Peer Ratings Comparison</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Advanced Micro Devices, Qualcomm and Texas Instruments, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Outperform trajectory for Advanced Micro Devices, with an average 1-year price target of $188.69, indicating a potential 0.83% upside.</li>
<li>The consensus among analysts is an Neutral trajectory for Qualcomm, with an average 1-year price target of $201.5, indicating a potential 7.68% upside.</li>
<li>Texas Instruments received a Neutral consensus from analysts, with an average 1-year price target of $217.89, implying a potential 16.44% upside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary presents essential metrics for Advanced Micro Devices, Qualcomm and Texas Instruments, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Broadcom</td>
<td>Buy</td>
<td>47.27%</td>
<td>$8.36B</td>
<td>-2.77%</td>
</tr>
<tr>
<td>Advanced Micro Devices</td>
<td>Outperform</td>
<td>8.88%</td>
<td>$2.86B</td>
<td>0.47%</td>
</tr>
<tr>
<td>Qualcomm</td>
<td>Neutral</td>
<td>11.15%</td>
<td>$5.22B</td>
<td>8.67%</td>
</tr>
<tr>
<td>Texas Instruments</td>
<td>Neutral</td>
<td>-15.65%</td>
<td>$2.21B</td>
<td>6.59%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Taiwan Semiconductor ranks at the top for Revenue Growth and Gross Profit among its peers. It is in the middle for Return on Equity.
<h3>About Taiwan Semiconductor</h3>
Taiwan Semiconductor Manufacturing Co. is the world's largest dedicated chip foundry, with over 60% market share. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple, AMD, and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs. TSMC employs more than 73,000 people.
<h3>Taiwan Semiconductor: Delving into Financials</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Taiwan Semiconductor's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 40.07%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Taiwan Semiconductor's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 36.8% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Taiwan Semiconductor's ROE excels beyond industry benchmarks, reaching 6.67%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Taiwan Semiconductor's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 4.21%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.27, Taiwan Semiconductor adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/TSM/earnings">To track all earnings releases for Taiwan Semiconductor visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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