TSMC Just Posted Record Profit for the Sixth Straight Quarter. Why Did the Stock Fall?

Impact · against what's priced in

TSMC's record earnings and margin expansion are largely non-catalytic as the market already assumes strong near-term AI demand, though the jump to 66.4% gross margins begins to validate the pricing power the market previously declined. For Oracle and IREN, the news is a neutral confirmation of the macro-driven volatility (rising yields) that already suppresses their valuations.

TSM+0.30

Challenges what's priced in

The price assumes