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Nvidia Corp’s (NASDAQ:NVDA) biggest manufacturing partner, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), saw a big spike in its Growth metrics in Benzinga’s Edge Stock Rankings.
According to Benzinga Rankings, TSMC scores 88.33 points on Growth, up from 29.96 last week, which shows a monumental surge of 58.37. Benzinga assigns Growth scores based on the historical growth in revenue and earnings, alongside the pace of this growth.
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In addition to the long-term trends, the scores also pay attention to the most recent performance, with TSMC releasing its second-quarter results last month.
The company released its second-quarter results in July, reporting $31.7 billion in revenue, up 38.6% year-over-year, and ahead of consensus estimates at $30.04 billion. Profits during the quarter stood at $13.03 billion, or $2.47 per share, beating consensus estimates at $2.37.
Two weeks ago, Taiwanese officials confirmed that the company was exempt from Trump’s 100% tariffs on semiconductors, since it operates fabs in the U.S.
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This was a key catalyst leading to a surge in the stock, followed by Nvidia CEO Jensen Huang’s visit to Taiwan last week, where he emphasized TSMC’s indispensable role in the semiconductor industry, while finalizing a deal to make six new products for the company.
Shares of TSMC were up 1.12% on Monday, trading at $235.59, and are up another 0.12% after hours. The stock scores high on Momentum, Growth and Quality, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
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This article This Nvidia Supplier Is Turning Up The Heat: Growth Metrics Spike As Stock Looks Set For A Breakout originally appeared on Benzinga.com
Source: This Nvidia Supplier Is Turning Up The Heat: Growth Metrics Spike As Stock Looks Set For
