Taiwan Semiconductor Manufacturing is trading 3.3% down at $413.85 in pre-market, giving back a portion of its sharp gains from the past week as broader market sentiment cools.
- The pullback is primarily driven by renewed pressure on large-cap tech and AI-related stocks, leading to profit taking as Nasdaq futures trade lower.
- The downward move comes despite the company reporting record revenue for May, which was bolstered by sustained and robust demand for AI chips.