Taiwan Semiconductor Manufacturing Co (NYSE:TSM) stock traded higher Thursday in sympathy with Nvidia Corp’s (NASDAQ:NVDA) upbeat quarterly results and guidance, implying that the artificial intelligence frenzy is here to stay. TSMC is a key Nvidia supplier.
On Wednesday, Nvidia reported fourth-quarter revenue of $22.10 billion, up 265% year-over-year, surpassing the Street estimate of $20.62 billion.
The adjusted EPS of $5.16 beat the Street consensus estimate of $4.64.
Nvidia projected a first-quarter revenue of $24.0 billion, plus or minus 2%, above the Street consensus estimate of $22.16 billion.
Also on Thursday, Analog Devices, Inc (NASDAQ:ADI) announced a significant partnership …
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