Taiwan Semiconductor rises as Morgan Stanley calls it 'the enabler of future technology'
PonyWang


Taiwan Semiconductor (NYSE:TSM) shares rose on Wednesday as investment firm Morgan Stanley recommended the semiconductor foundry, calling it a "top pick."
A group of Morgan Stanley analysts noted that there is expected to be a semiconductor recovery in the second-half of 2023 and Taiwan Semiconductor (TSM) is likely to benefit, as it is "the enabler of future technology.â

Taiwan Semiconductor (TSM) shares rose fractionally to $73.02 in premarket trading.
The analysts also noted that Asian semiconductor companies would likely recover faster than their U.S. counterparts as some are trading at trough valuations, while trends such as 5G, artificial intelligence and electric vehicles continue strong growth.
A new report from Korean news outlet Economic Daily suggests that Apple (AAPL) agreed to price hikes from Taiwan Semiconductor (TSM) after the tech giant reportedly said no last month.
Separately on Wednesday, Digitimes reported that Taiwan Semiconductor (TSM) had started negotiating with equipment and materials suppliers for next year, requesting price cuts of at least 10%, citing industry sources.
Late last month, it was reported that some of Taiwan Semiconductor's (TSM) "major" fabless customers have started cutting back on wafer starts in 2023.