Reported 8 months ago
On June 19, 2024, with speculation of a Fed rate cut and AI giant NVIDIA surpassing Microsoft to become the world's most valuable company, the US stock market closed higher, boosting Taiwan's stock market to break through the 23,000 points mark. TSMC's stock soared contributing significantly to the index, while MediaTek and Foxconn also saw significant gains. Analysts caution that despite the rally driven by AI stocks, there may be a need for corrections due to overvaluation. NVIDIA's remarkable 3% intraday surge pushed its stock price to a historic high, surpassing Microsoft as the most valuable company on Wall Street. TSMC's ADR has also seen continuous growth, making it the 8th largest company globally by market value.
Source: YAHOO