Taiwan Semiconductor Manufacturing Company reported a 60% increase in first-quarter profit, exceeding expectations and boosting the chip sector's outlook.
TSMC maintained its annual sales forecast, indicating confidence in strong chip demand amid trade concerns.
Concerns over Trump's tariffs on Chinese imports have affected chip companies, with Nvidia warning of a potential $5.5 billion earnings hit.
Despite the challenging landscape, TSMC's performance has lifted the outlook for the entire chip sector, reversing recent declines in stock prices.