May 10, 2024 - $Taiwan Semiconductor (TSM.US)$ shares increased 3.54% to $147.85 in pre-market trading on Friday. The April 2024 revenue results revealed by TSMC today was impressive.

TSMC today announced its net revenue for April 2024: On a consolidated basis, revenue for April 2024 was approximately NT$236.02 billion, an increase of 20.9 percent from March 2024 and an increase of 59.6 percent from April 2023. Revenue for January through April 2024 totaled NT$828.67 billion, an increase of 26.2 percent compared to the same period in 2023.

In addition, TSMC also announced that it has approved the distribution of a cash dividend of $4.00 per share for the first quarter of 2024. The dividend base date for common shares is set at September 18, 2024, and the ex-dividend trading date is September 12, 2024.

Analysts' Views:

• Nomura believes that if the cyclical technological recovery extends to other electronic terminal markets, it will support semiconductors to enter the next upward cycle, which will continue from the second half of this year to 2025. Driven by AI demand, the cyclical recovery of the terminal market will expand from artificial intelligence servers to other major computing fields such as traditional servers, personal computers, and smartphones.

• Morgan Stanley raised TSMC's target price to NT$860, which is 7.5% higher than the current stock price. It is expected that TSMC will outperform the entire semiconductor market in the long term.