The president met with executives from major companies on Monday to discuss the global chip shortage that has hit automakers
Microsoft, Amazon, Alphabet and Nvidia jumped 1% or more, with those and other growth stocks showing signs of awakening after lagging in recent weeks.
The move by CEO Pat Gelsinger aims to restore Intel's reputation after last year's manufacturing delays.
Company chart and information is provided by TradingView based on 15-minute-delayed data.
Taiwan Semiconductor Manufacturing Company, or TSMC, is the world's largest dedicated chip foundry, with over 50% market share in 2019 per Gartner. TSMC was founded in 1987 as a joint venture of Philips, the government of Taiwan, and private investors. It went public as an ADR in the U.S. in 1997. TSMC's scale and high-quality technology allow the firm to generate solid operating margins, even in the highly competitive foundry business. Furthermore, the shift to the fabless business model has created tailwinds for TSMC. The foundry leader has an illustrious customer base, including Apple and Nvidia, that looks to apply cutting-edge process technologies to its semiconductor designs.
| Website: | www.tsmc.com |
| Email: | invest@tsmc.com |
| Main Phone: | +886 35636688 |
| Address: | No. 8, Li-Hsin Road 6 |
| Address 2: | Hsinchu Science Park |
| State: | KY |
| City / Town: | Hsinchu |
| Country: | TW |
| Postal Code: | 300-78 |
| Exchange: | NYE |
| CEO: | C.C. Wei |
| Employees: | 51297 |
| NAICS: | Semiconductor and Related Device Manufacturing(334413) |
The president met with executives from major companies on Monday to discuss the global chip shortage that has hit automakers
Microsoft, Amazon, Alphabet and Nvidia jumped 1% or more, with those and other growth stocks showing signs of awakening after lagging in recent weeks.
The move by CEO Pat Gelsinger aims to restore Intel's reputation after last year's manufacturing delays.
The global chip shortage that first hit the auto industry is spreading across the electronics business.
Taiwan Semiconductor is the sole supplier to Apple of iPhone processors.
Shares fell 6.7% in after-hours trading on Wednesday
GM said it will cut production entirely during the week of Feb. 8 at plants in Fairfax, Kansas; Ingersoll, Ontario; and San Luis Potosi, Mexico. It will also run its Bupyeong 2 plant in South Korea at half capacity that week.
Executives from the leading manufacturers told Taiwanese officials they will prioritize auto chip production if they can further increase capacity.
Global automakers are shutting assembly lines due to problems in the delivery of semiconductors, which in some cases have been exacerbated by the former Trump administration's actions against key Chinese chip factories.
The company plans to spend between $25 billion and $28 billion this year to develop advanced technology and increase its overall plant capacity.
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