The world’s leading manufacturer of custom microchips Taiwan Semiconductor Manufacturing Co. regained the title of Asia’s most expensive company, overtaking TencentHoldings Ltd.
Since the beginning of this year, shares of TSMC gained 18.4% and 7.2% over the last five days. The company is now capitalized at NT$13.8 trillion ($450 billion), according to Market Watch.
TSMC increased net income in the first quarter of 2023 by 2.1% over the same period last year and revenue by 3.6%. The figures, however, were 30% and 19% lower than in the previous quarter.
Nevertheless, experts expect that the active development of the sphere of artificial intelligence will contribute to the growth on advanced chips produced by TSMC.
The capitalization of Tencent, which recently held the first place in the list of the largest Asian companies, increased by 7.4% this year and remained virtually unchanged over the past month amid the slow recovery of the Chinese economy. Tencent is now capitalized at HK$3.17 trillion ($405 billion).
