Nvidia, Micron, and Taiwan Semiconductor Exceed Expectations
In their latest financial results, Nvidia, Micron Technology, and Taiwan Semiconductor Manufacturing Company (TSMC) beat Wall Street’s consensus estimates significantly. Nvidia reported sales of $57 billion and earnings per share (EPS) of $1.30, surpassing estimates of $54.7 billion and $1.23. Micron recorded $13.6 billion in sales and an EPS of $4.78, beating expectations of $13.2 billion and $3.77. TSMC generated $33.7 billion in revenue and an EPS of $3.14, exceeding forecasts of $33.1 billion and $2.82.
The strong performance comes amidst a booming AI infrastructure sector, where tech giants are projected to spend approximately $400 billion this year. Companies like Meta, Alphabet, and Amazon have indicated their spending on AI initiatives will increase significantly over the coming years, further benefiting Nvidia, Micron, and TSMC.
