TSM Stock Drops on AI Worries — Why This Week Is the Bigger Test
TSM’s U.S.-listed depositary receipts fell 2.9% to $393.07 in afternoon trading Tuesday as chip stocks dropped on concerns over AI spending. The iShares Semiconductor ETF lost 3.1%, with ASML and Nvidia also trading lower. TSMC reported first-quarter revenue of $35.90 billion, up 40.6% from a year earlier. Big Tech earnings reports later this week are expected to impact sentiment.