Well it’s official, after months of all the “Where’s the AI revenue?” and “AI is overvalued” finger pointing, Taiwan Semiconductor has now gotten Wall Street fanboys screaming “Shut up and take my money” this AM. 

(Source: Redbubble)

Yep, you read that right. Big Tech seems to have gotten its swagger back. How’s that for a Friday sigh of relief?

You see, in light of AI stonks playing Rebel Wilson, and moonlighting all of their powerful goodies to China and other U.S. adversaries, TSM absolutely body slammed its monthly report. 

(Source: Yahoo Finance) 

For instance, TSM reported a nice “mic drop” revenue of NT$256.95 billion for July 2024, which is a massive 23.6% increase from June, and an even more impressive 44.7% surge compared to July 2023. In U.S. dollars, (because who cares about anything else?) this translated to about $7.94 billion for TSM rev. 

(Source: Giphy) 

Which, to be completely honest, sounds pretty dayum good, until you see that total revenue for the year is even more eye-catching as the company has pocketed $47.22 billion (U.S. Dollars), marking a 30.5% increase over the same period in 2023. 

So yeah, not only is TSM basically screaming: “Eat a ****, critics” with these numbers, but this clearly shows that AI chips are still hotter than Margot Robbie in a bubble bath during that wonderful scene in The Big Short... (iykyk). 

(Source: Giphy) 

Of course, as we’ve seen this year, Nvidia, AMD, and Apple have been riding the AI wave higher than Willie Nelson rode Trump’s cannabis comments yesterday. However, now with TSM’s financial colonoscopy spread eagle for all to see, it’s becoming more evident that TSM is the go-to, as high performance computing (led by AI), contributed over 52% of their revenue last quarter. 

(Source: Bloomberg) 

For those keeping score, this quarter also marks the first time AI has accounted for more than half of TSM’s revenue. “Gimme dat money, how bout dat?” 

Keep in mind, this powerful showing follows a month after watching the stock take a nosedive of nearly -10% during Big Tech’s mid-year crisis. However, when these numbers dropped yesterday, TSM skyrocketed +3.08%, as it refreshed Wall Street’s greed gland pulse. 

(Source: Barrons) 

Citi analyst Mark Ru Li, for instance, noted that despite Nvidia (a major client for TSM) dropping the ball with their Blackwell chips, AI chip demand clearly remains strong as analysts expect TSMC’s growth to continue its solid uptrend. 

For this reason, he not only reiterated his buy rating on this chip giant, but he raised the price target to $150 from $125 for a potential 8.8% upside.

(Source: Investing.com)

In addition, according to our boys over at Tip Ranks, there’s recently been 11 unanimous strong buys for the stock, as TSM has catapulted more than 70% this year. And now, with an average price target sitting at $184.30, it’s clear that investors are licking their chops for a potential 12% pump in the near future.

So given all of this, it’s obvious that TSM is putting the tech industry on its back like Brady did for Tampa.

(Source: iFunny)

Plus, with the company projecting third quarter guidance between $22.4 billion and $23.2 billion, (slamming previous expectations), with plans to double their advanced chip-packaging capacity soon - the company has definitely gained immense momentum over the last month. “Where you at Nvidia?” 

(Source: Giphy) 

In the end, it’s evident that AI chip demand ain’t over by a long shot. And when it comes to Taiwan Semiconductors, they are definitely putting the “Hawk” in “Tuah” Big Tech this week. 

At the time of this writing, Taiwan Semiconductors is up 1.60% on the day (up 64.73% YTD). 

Stocks.News holds positions in Apple as mentioned in the article.