Jim Cramer Calls This Key Apple Supplier 'A Great Company' After Stock Closed Nearly 5% Higher – Benzinga
In the latest episode of “Mad Money,” host Jim Cramer shared his thoughts on Apple’s major supplier Taiwan Semiconductor TSM.
What Happened: During the lightning round segment of his show “Mad Money,” Cramer was asked about Taiwan Semiconductor on Wednesday.
His response was succinct: “It is a great company, what can I say.”
The NYSE-listed stock of TSMC closed 4.69% higher on Wednesday, according to data from Benzinga Pro. It also gained 1.73% on Thursday in Tokyo.
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Why It Matters: Taiwan Semiconductor reported a 7.9% year-on-year revenue growth in January 2024 to NT$215.79 billion ($6.9 billion). This increase was driven by strong demand for AI chips, which helped offset the ongoing decline in consumer electronics.
The praise for Taiwan Semiconductor comes amid the company’s significant expansion in Japan. The company recently announced the opening of a second chip fabrication plant, a move that is expected to enhance Japan’s domestic semiconductor production capabilities. Taiwan Semiconductor’s advanced technology in AI chips is also seen as a driver for an impending recovery in the sector.
This expansion is a significant step for the critical supplier to companies like Apple Inc. and Nvidia Corp and is anticipated to have a substantial impact on the economy of the southwestern Japanese prefecture.
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