Taiwan Semiconductor Manufacturing Co. Ltd. fell to seventh place in global market capitalization after Space Exploration Technologies Corp. surged following its record-breaking IPO. SpaceX vaulted ahead with a staggering $2.519 trillion valuation, pushing the chipmaker down the rankings despite positive market momentum. Nasdaq futures climbed 0.68%, while S&P 500 futures gained 0.16%, supporting large-cap technology stocks.

TSMC Slips To No. 7 In Global Market Value

Taiwan Semiconductor’s ADRs rose 4.12% to $441.40 on Monday, valuing the company at $2.289 trillion. Meanwhile, SpaceX climbed another 19.6% to $192.50, lifting its market capitalization to $2.519 trillion after raising about $75 billion in the world’s largest IPO.

TSMC, Amkor Expand U.S. Chip Packaging Partnership

Separately, Taiwan Semiconductor and Amkor Technology Inc. announced a 10-year partnership to expand advanced semiconductor packaging and testing in Arizona. Under the agreement, TSMC will procure advanced packaging and testing services from Amkor to increase U.S. capacity for AI, high-performance computing, and other advanced chips. The collaboration aims to strengthen the domestic semiconductor supply chain, improve efficiency, and speed time to market.

Technical Analysis

Taiwan Semiconductor remains in a well-defined long-term uptrend, trading about 2.6% above its 20-day simple moving average (SMA) of $421.95. The stock is 7.7% above its 50-day SMA of $401.95 and nearly 30% above its 200-day SMA of $332.97. The relative strength index (RSI) stands at 53.56, indicating the stock is neither overbought nor oversold. The next resistance level is $450.00, just below the 52-week high of $450.16, while initial support sits near $405.50.

Earnings And Analyst Outlook

The company’s next earnings report is expected on July 16, 2026. Wall Street expects earnings per share of $3.69, up from $2.47 a year earlier, on revenue of $39.76 billion versus $30.07 billion last year. The stock trades at about 36.6 times forward earnings. Analysts maintain a consensus Buy rating with an average price forecast of $442.50. Recent analyst actions include Barclays raising its price forecast to $470, DA Davidson maintaining a $450 target, and Needham lifting its target to $480.

Taiwan Semiconductor Manufacturing Co. Ltd. stock rose nearly 4% in Monday's premarket trading as investors returned to technology stocks and chipmakers. Nasdaq futures climbed 2.04%, while S&P 500 futures gained 1.21%, driving a broader rebound in growth stocks. Semiconductor names were among the strongest performers in premarket trading as investors added exposure to technology leaders. Taiwan Semiconductor is trading near its 52-week high, making it a key beneficiary of improving market sentiment. With futures advancing across major indexes, investors continued to favor large-cap technology and artificial intelligence-linked stocks.

Technical Setup Remains Bullish

The stock continues to trade in a strong uptrend. Shares remain about 4.8% above their 20-day simple moving average of $418.61, 10.1% above their 50-day moving average of $398.22, and 32.5% above their 200-day moving average of $331.02. The moving-average structure remains supportive, with the 20-day average above the 50-day average and the 50-day average above the 200-day average. This pattern reflects a sustained long-term uptrend.

Momentum indicators also remain balanced. The relative strength index stands at 54.14, suggesting the stock is neither overbought nor oversold and may have room for additional gains. Investors are closely watching the $450 area, which sits near the stock's 52-week high of $450.16. A decisive move above that level could signal a breakout. On the downside, support is located near $385, an area that previously attracted buyers.

Key Technical Levels

Taiwan Minister Defends Taiwan Semiconductor Amid U.S. Patent Dispute

Separately, Taiwan's Minister of Economic Affairs, Kung Ming-hsin, recently defended Taiwan Semiconductor after reports linked the company to a U.S. patent infringement lawsuit. According to Axios, several U.S. lawmakers urged the U.S. International Trade Commission to ban imports of Taiwan Semiconductor-made chips if they are found to violate U.S. patents. A preliminary ruling is expected this month, with a final decision potentially coming in October.

Kung said the ministry contacted Taiwan Semiconductor about the case, but the company declined to comment because the litigation is ongoing. He added that the government remains highly confident in Taiwanese companies' compliance with patent regulations and is "even more confident" after communicating with Taiwan Semiconductor. Industry leaders at Taiwan's Economic and Industrial Development Advisory Conference also called for greater power capacity, more computing resources for AI development, and measures to address shortages of research and development talent.

Earnings And Analyst Outlook

The next major catalyst is Taiwan Semiconductor's expected earnings report on July 16. Wall Street expects earnings of $3.69 per share, up from $2.47 a year earlier. Revenue is projected to reach $39.76 billion, compared with $30.07 billion in the prior-year period. The stock carries a consensus Buy rating with an average analyst price forecast of $442.50. Recent analyst actions include Barclays maintaining an Overweight rating and raising its price forecast to $470 on April 22, DA Davidson maintaining a Buy rating and a $450 price forecast on April 17, and Needham maintaining a Buy rating and raising its price forecast to $480 on April 16.