Taiwan Semiconductor Manufacturing Company Ltd. (TSMC) saw its stock decline by 2.54% to close at $195.56 on December 18, 2024, after opening at $203.00. The stock experienced a volatile session, reaching a high of $205.24 before dipping to a low of $193.96. The trading volume was slightly below average at 12,968,533 shares. The decline was primarily driven by a clarification regarding TSMC's collaboration with Intel, where TSMC stated it only discussed production design and did not assist in building Intel's U.S. plant. This clarification came after comments from TSMC's U.S. Chairman, Rick Cassidy, about ongoing discussions with Intel on advanced manufacturing techniques.
Despite positive news earlier in the day about TSMC's strategic advancements, such as the Arizona fabrication plant being back on track, the market reacted more strongly to the Intel clarification. The plant is expected to produce advanced 4-nanometer chips and is a significant part of TSMC's growth strategy. However, the clarification on Intel collaboration seemed to overshadow these developments, contributing to the stock's decline.