Taiwan Semiconductor soars as foundry giant reports 56% increase in October sales; chip stocks soar

As the largest semiconductor foundry in the world reported that its October sales increased 56% year over year, Taiwan Semiconductor (NYSE:TSM) shares increased by about 5% on Thursday.

Taiwan Semiconductor (TSM) increased its revenue from NT$134.5 billion to $6.6 billion (or NT$210.3 billion) for the month that ended on October 31.

Chips are produced by Taiwan Semiconductor (TSM) for a variety of customers, including Apple (AAPL), Nvidia (NVDA), Advanced Micro Devices (AMD), and others.

The October CPI report, which indicated inflation is slowing, as well as Taiwan Semiconductor's (TSM) good earnings helped semiconductor stocks rise on Thursday.

AMD (AMD) added almost 10%, while Nvidia (NVDA) increased by more than 8.4%. In addition to Micron Technology (MU), Analog Devices (ADI), NXP Semiconductors (NXPI), and ON Semiconductor (ON), other semiconductor companies also experienced substantial advances.

It was revealed on Wednesday that Taiwan Semiconductor (TSM) intended to invest billions of dollars in yet another factory in Arizona.