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capital expenditure forecastThe Motley Fool
•83% Informative
Taiwan Semiconductor Manufacturing , popularly known as TSMC , is the world's largest semiconductor foundry.
TSMC 's revenue increased 33% year over year to $20.8 billion , while earnings per share jumped nearly 30% from the same period last year .
The Taiwanese chip giant has raised the lower end of its 2024 capital expenditure forecast to $32 billion .
The above numbers bode well for Nvidia , which has emerged as one of its top clients amid the artificial intelligence ( AI ) boom.
Nvidia could deliver stronger-than-expected growth in the coming quarters based on the indications from TSMC 's latest results.
Nvidia is trading at 45 times forward earnings, which is a small discount to the U.S. technology sector's average of 46 .
Consider when Nvidia made this list on April 15, 2005 ... if you invested $ 1,000 at the time of our recommendation, you’d have $ 692,784 !.
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