Why Taiwan Semiconductor Stock Popped on Wednesday

Core Insights - TSMC's stock has seen a modest increase, with a 2.3% rise reported on a recent Wednesday morning [1] - The company reported a 10% decline in June 2024 revenue compared to May, but a significant year-over-year increase of nearly 33% [1] - For the first half of 2024, TSMC's sales are up 28% compared to the same period in 2023 [1] Revenue Performance - TSMC generated approximately $38.8 billion in revenue during the first six months of 2024, achieving about 46$6.35 per share by the end of fiscal 2024, indicating a valuation of nearly 30 times earnings [3] - The company's modest dividend yield of 1.3% slightly improves the valuation perspective [3] - Despite a 77% increase in stock price over the past year, which outpaces the S&P 500's growth, the potential for significant future gains may be limited [3]