Taiwan Semiconductor Manufacturing Co. (TSMC) reported robust first-quarter results and projected second-quarter revenue that exceeded Wall Street expectations. The chipmaker, which supplies companies like Nvidia, Broadcom, and Apple, noted no changes in consumer behavior and maintained its annual revenue forecast. TSMC anticipates revenue from AI accelerators to more than double in 2025, keeping its capital expenditures outlook steady. Despite TSMC’s positive outlook, Nvidia’s stock declined for a second consecutive day. Jim Cramer explained his decision to retire his “own it, don’t trade it” mantra on Nvidia and Apple shares. Market uncertainty persists as Federal Reserve Chair Jerome Powell tempered expectations for near-term interest rate cuts, prompting criticism from President Donald Trump. — new from CNBC
