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 story : Taiwan Semi stock surges toward best day since 2008 after Buffett's Berkshire reveals stake #FinanceUSA #StockMarketNEWS U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. Ltd. were headed

@stockMarketNEWS Wed 16 Nov, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Taiwan Semi stock surges toward best day since 2008 after Buffett's Berkshire reveals stake #FinanceUSA #StockMarketNEWS
U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. Ltd. were headed for their best single-day performance since 2008 after Warren Buffett's Berkshire Hathaway revealed a new position in the Taiwanese chip manufacturer. Shares were up 12.9% in Tuesday morning trading and on track for their largest single-day percentage gain since Oct. 28, 2008, when they rose 21.1%. Berkshire's position amounted to just over 60 million American depositary shares of TSMC as of the third quarter. Jordan Klein, a Mizuho desk-based analyst associated with Mizuho's sales team and not its research arm, wrote Tuesday that the investment was Buffett's first in semiconductors over the course of his career "so it does matter" and TSMC is "as high quality as it gets." That said, he wrote that 2023 Wall Street estimates for TSMC "still look too high" in his view, while "China invasion risk is not zero." Other chip stocks were rising as well Tuesday, with Intel Corp. shares up more than 3%, Advanced Micro Devices Inc. shares up more than 4%, and Nvidia Corp. shares up more than 2%, though Buffett didn't reveal stakes in those names as of Berkshire's third-quarter 13-F filing.


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