Stock Market Update
13-Jul-26 11:00 ET
Taiwan Semiconductor Manufacturing lower despite substantial revenue increase
Dow -64.43
at 52572.58,
Nasdaq -184.95
at 26117.66,
S&P -19.29
at 7556.10
[BRIEFING.COM] The major averages remain lower this morning as opening strength in the broader market begins to fade while heavily-weighted tech names largely underperform.
Taiwan Semiconductor Manufacturing (TSM 431.52, -2.59, -0.60%) is modestly lower this morning despite reporting June revenue of NT$442.68 billion, up 6.2% sequentially and 67.9% year-over-year, with first-half 2026 revenue up 35.6% year-over-year to roughly NT$2.40 trillion. The move appears less tied to company-specific deterioration than to a broader semiconductor de-risking trade, with chip stocks under pressure amid overseas market weakness, SK hynix Inc. (SKHY 156.76, -11.24, -6.69%) volatility, and geopolitical tension ahead of TSM's July 16 earnings report.
The PHLX Semiconductor Index (-3.4%) is off its opening lows, though semiconductor stocks remain a point of relative weakness.
