On October 17th Eastern Time, boosted by better than expected third quarter earnings, TSMC's US stock price surged 9.79% to $205.84 per share, setting a new historical high; The total market value has exceeded 1 trillion US dollars, reaching 1.068 trillion US dollars. According to statistics, this is the first Chinese concept stock company with a market value exceeding one trillion US dollars, and also the first Asian technology company with a market value exceeding one trillion US dollars.
It is worth noting that TSMC's market value of $1.068 trillion makes it the eighth largest company in the world by market value, surpassing Berkshire Hathaway under Warren Buffett, and the seventh largest technology company after Apple, Nvidia, Microsoft, Google, Amazon, and Meta.
As a global high-end chip foundry, TSMC almost exclusively handles high-end chips, especially AI chip outsourcing, becoming a pivotal player in the AI supply chain. Combined with the tight production capacity of high-end chips and the expectation of price increases, TSMC's stock price has repeatedly hit new highs. Since the beginning of this year, based on the pre exercise price, TSMC's stock price has risen by 100.09%.
In terms of performance guidance, TSMC expects fourth quarter sales to be between $26.1 billion and $26.9 billion, exceeding market estimates of $24.94 billion; The expected gross profit margin for the fourth quarter is 57% to 59%, while the market estimate is 54.7%; Calculated in US dollars, TSMC expects its sales for the full year of 2024 to increase by nearly 30%, a significant increase from the previously estimated maximum growth rate of around 20%.