Why Are Nvidia And AMD Stocks Are Trading Higher Thursday?

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Benzinga

Nvidia Corp (NASDAQ:NVDA) is trading higher Thursday along with peers, including Advanced Micro Devices, Inc (NASDAQ:AMD), after their crucial supplier, Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM), impressed the Street with its fourth-quarter results. The Taiwan contract chipmaker clocked a fourth-quarter revenue of $19.62 billion, down by 1.5% year-on-year, beating the consensus of $19.45 billion. EPS of $1.44 beat the consensus of $1.37. TSMC expects FY24 revenue to grow in the low to mid-20% range. The contract chipmaker expects a FY24 capital budget of $28 billion – $32 billi…

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