TSMC is trading at $413.67 (+3.47%) as semiconductor stocks rally following a high-profile US-China summit that sparked optimism for eased trade restrictions.
- Tech leaders, including Nvidia's CEO, met with Chinese officials yesterday, leading to market hopes for a more favorable environment for chip exports.
- The stock is riding a wave of broader market strength, with the S&P 500 up 0.40% and the NASDAQ gaining 0.43% during a positive open.
- Investors are largely brushing off reports of Intel's talks with MediaTek regarding packaging technology as a potential alternative to TSMC services.