Nvidia Corp’s (NASDAQ:NVDA) biggest manufacturing partner, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), saw a big spike in its Growth metrics in Benzinga’s Edge Stock Rankings.
Big Spike In Growth Scores
According to Benzinga Rankings, TSMC scores 88.33 points on Growth, up from 29.96 last week, which shows a monumental surge of 58.37. Benzinga assigns Growth scores based on the historical growth in revenue and earnings, alongside the pace of this growth.
In addition to the long-term trends, the scores also pay attention to the most recent performance, with TSMC releasing its second-quarter results last month.
Strong Q2 Performance And Tariff Exemptions
The company released its second-quarter results in July, reporting $31.7 billion in revenue, up 38.6% year-over-year, and ahead of consensus estimates at $30.04 billion. Profits during the quarter stood at $13.03 billion, or $2.47 per share, beating consensus estimates at $2.37.
Two weeks ago, Taiwanese officials confirmed that the company was exempt from Trump’s 100% tariffs on semiconductors, since it operates fabs in the U.S.
This was a key catalyst leading to a surge in the stock, followed by Nvidia CEO Jensen Huang’s visit to Taiwan last week, where he emphasized TSMC’s indispensable role in the semiconductor industry, while finalizing a deal to make six new products for the company.
Shares of TSMC were up 1.12% on Monday, trading at $235.59, and are up another 0.12% after hours. The stock scores high on Momentum, Growth and Quality, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
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