Stock Track | SMIC Soars 5.02% Intraday on TSMC Results and Semiconductor Sector Rebound

Stock Track
Jul 20

SMIC's stock surged 5.02% during intraday trading on Monday, reflecting strong momentum in the semiconductor sector.

The rally follows Taiwan Semiconductor Manufacturing Company's (TSMC) announcement of record-breaking profits for the fifth consecutive quarter, which has boosted sentiment across the semiconductor industry. TSMC reported a 77% year-on-year increase in net profit and raised its revenue growth forecast for 2026, while expressing high optimism about the long-term growth trajectory of the AI industry.

Additionally, the semiconductor sector is experiencing a technical rebound after four consecutive days of correction, with profit-taking pressure having been released. Mid-term industry drivers, including expectations for wafer foundry price increases and sustained AI computing power demand, continue to support the sector's fundamentals. Market analysts note that the current adjustment phase in tech stocks may be nearing its conclusion, with the AI industry trend remaining a primary market driver.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10