TSM Shares Fall 1.8% Amid Chip Selloff Despite 69% Profit Growth

Taiwan Semiconductor Manufacturing Co. (TSMC) shares fell 1.8% on Oct. 15 as chip stocks sold off, despite strong quarterly results and guidance for another jump in fourth-quarter revenue. TSMC's U.S.-listed shares closed at $422.25 at 4 p.m. ET (20:00 UTC), down $7.75 from the previous close of $430. The decline coincided with a broader retreat in semiconductor stocks as markets weighed a possible interest-rate hike and the cost of building out AI infrastructure. The U.S. Consumer Price Index rose 3.7% in the 12 months through September, compared with 3.4% through August. Prices also increased 0.6% from August on a seasonally adjusted basis. For the quarter ended Sept. 30, TSMC reported revenue of NT$1.49 trillion, up 50.9% in New Taiwan dollars. Revenue measured in U.S.

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