My top 10 things to watch Thursday, Oct. 17
1. Taiwan Semiconductor Manufacturing Company reported a true blowout quarter. All you need to know from TSMC: “Our customer’s demand far exceeds our ability to supply.” Confirms that one customer, presumably Nvidia, has insane demand, and it’s just beginning.
2. TSMC shares surged roughly 10% on Thursday, pulling Club names Nvidia, Advanced Micro Devices and Broadcom along for the ride. TSMC’s results are a refutation of semiconductor equipment maker ASML, which knocked down chip stocks Tuesday.
3. Riding the chip and broad tech stock rally, Wall Street was heading for a higher open that would add to Wednesday’s bounce-back rally from the prior session’s sharp declines. The Dow eked out a new record-high close. We held our October Monthly Meeting on Wednesday and talked about what levels we would buy more Disney and provided the latest on the 32 other stocks in the Club portfolio.
