RTTNews | Jan 13, 2022 10:08AM EST

10:08 Thursday, January 13, 2022 (RTTNews.com) - The world's largest chip manufacturer, Taiwan Semiconductor Manufacturing Company Limited (TSM) is trading 12% higher in the Thursday market after announcing a positive fourth quarter.

Net income attributable to the shareholders went up to NT$166.37 or NT$32.05 per share from NT$142.82 million or NT$27.53 per share in the same quarter last year. This was primarily due to the massive chip demand that was created in 2020 and carried on in 2021.

The company had previously announced that it will invest $100 billion by 2024 to meet the market demand. In the earnings release, TSMC confirmed the investment to be between $40 billion and $44 billion for 2022 alone to build more facilities as the current ones are running at their 100% capacity.

Currently, the stock is trading at $144.94, up $12.71 or 9.61% since the previous close at $132.23. The stock opened at $130.50 in the morning. In the 52-week period, the stock has ranged between $107.58 and $144.82 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3254904/tsmc-up-9-on-positive-q4-and-investment-news.aspx)

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