TSMC shares fall sharply amid Nasdaq plunge, despite strong earnings

TAIPEI: Taipei-listed shares of TSMC ended 3.5% lower on Friday, dragged down by continuing geopolitical concerns and overnight losses on U.S. markets, despite the chipmaker posting strong earnings and giving an upbeat revenue outlook.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple and Nvidia supplier and Asia’s most valuable listed company, has benefited from the global artificial intelligence boom that has helped it weather the tapering off of pandemic-led electronics demand.