Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) is likely to offer advanced 4-nanometer chips when its new plant in Arizona worth $12 billion opens in 2024, Bloomberg reported on Thursday.
The report stated that TSMC intends to announce this plan when U.S. President Joe Biden and Commerce Secretary Gina Raimondo visit Phoenix, Arizona next week.
TSMC had earlier stated that it intends to manufacture 20,000 wafers per month at the new Arizona facility, but this production could be ramped up later. The report stated that Apple is expected to use 33% of TSMC’s production output at the Arizona facility.
Analysts are bullish about TSM stock with a Strong Buy consensus rating based on a unanimous six Buys.