Taiwan Semiconductors, ASML, Intel: Top stocks
Yahoo Finance markets contributor Remy Blaire discusses stocks opening on a mixed note and semiconductor stocks movement amid Nvidia earnings.
DIANE KING HALL: All right. Let's head right over to the New York Stock Exchange now for a closer look at how markets are moving this Wednesday morning in the early action. "Yahoo Finance" contributor Remy Blaire is right there on the ground. Remy?
REMY BLAIRE: Well, Wall Street has opened on a mixed snow on this Thursday morning. But we are seeing that move higher for the NASDAQ. The NASDAQ composite index is up by over triple digits. And posting over 1% gain on the heels of blockbuster earnings from NVIDIA. And following those strong quarterly results and guidance out from NVIDIA, we are seeing semiconductor-related shares higher as well.
Let's start out with a look at Taiwan Semiconductor Manufacturing. Shares did pop up by as much as 9%. And the outcome as the chip maker does manufactured GPUs for NVIDIA, the company could be a major beneficiary on surging demand for chips by NVIDIA.
Now, TSMC can expect a spike in orders if NVIDIA does sell as many chips as expected. Now, moving on to ASML, the Dutch firm is also getting a lift this morning with shares higher by over 4% in New York morning trade. The semiconductor equipment maker is also the only company that makes the extreme UV lithography machines needed to make advanced microchips. And last, but not least, taking a quick look at Intel. Shares of the company are lower in New York morning trade.
Keep in mind that earlier this week, Intel did announce its roadmap for its AI chip, which will be named Falcon Shore for AI as well as scientific computing. But it does not expect that chip to be introduced to the market until 2025.
DIANE KING HALL: All right. Remy Blair, mixed market this Thursday. Thank you for the correction. At the New York Stock Exchange, I gave us an extra day. Sorry about that.