Taiwan Semiconductor Manufacturing Co (NYSE:TSM) clocked a 7.9% year-on-year revenue growth in January 2024 to NT$215.79 billion ($6.9 billion).
The critical Apple Inc (NASDAQ:AAPL) and Nvidia Corp (NASDAQ:NVDA) supplier experienced a sales increase in January, driven by strong demand for AI chips, which helped counterbalance the ongoing decline in consumer electronics, Bloomberg reports.
This uptick likely signals an impending recovery in the sector, with the critical contract chipmaker likely to lead the pack due to its advanced technology in AI chips.