Daily newsletter · Mon 12 Oct 2026
TSMC just had a record quarter, and its American shares fell four days running
TSMC, which makes chips for Nvidia and Apple, took in NT$1.49 trillion in the three months to September. That is about US$46.7 billion, 50.9% more than a year earlier and a quarterly record.
TSMC beat its own forecast. It had told investors to expect between US$44.6 billion and US$45.8 billion. September alone came in 54.6% above a year earlier.
Its American-listed shares fell anyway. They dropped four sessions in a row, from US$485.80 on Monday to US$453.31 on Friday, a slide of 6.7%.
The rest of the chip sector had it worse. Intel lost 12.3% over the week to US$104.70. Much of the selling came after Thursday's report that OpenAI earns less than investors had been told.
TSMC's results call is at 2pm Thursday in Taiwan, which is 7pm in Auckland and 5pm in Sydney. The sales are already public, so the call is about margins and next year's spending plans.
TSMC's outlook for 2027. The sales figures show AI money is still arriving. Last week's selling was about whether it keeps coming, and TSMC is among the first to hear its customers' plans.
More in
All stories →- Wednesday 4 November AMD's data centre sales nearly doubled, and it has guided to US$17 billion for this quarter
- Friday 23 October Lam Research fell 11.76% after saying it could not get enough parts, and chip stocks followed
- Friday 16 October TSMC made a record profit and raised its sights, and its shares still fell 1.8%
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