- Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) plans to set up around five additional fabs in Arizona apart from the current one, Reuters reports.
- It announced the $12 billion Arizona chip factory in May 2020.
- TSMC was setting up a 12-inch wafer fabrication plant in Phoenix, with expected volume production from 2024.
- Last month, TSM had announced a $100 billion investment over three years to drive chip building capacity.
- Intel Corp (NASDAQ: INTC) also announced a $20 billion investment towards two-chip building factories in Arizona.
- Samsung Electronics Co Ltd (OTC: SSNLF) previously shortlisted two sites in Arizona and one in New York for a $17 billion chip plant.
- Price action: TSM shares traded lower by 1.33% at $114.4 on the last check Tuesday.
Death Cross Looms Over PPG Industries Investors
If history is any guide, there may be trouble ahead for shares of PPG Industries(NYSE:PPG). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
