Why Taiwan Semiconductor Stock Was Moving Higher Today

Shares of Taiwan Semiconductor (NYSE: TSM) were moving higher today even though there was no company-specific news out on the stock. Instead, investors seemed to react positively to news that Intel CEO Pat Gelsinger had retired over the weekend, apparently being pushed out after the stock had flailed under his tenure.TSMC shares rose on the news as Gelsinger's departure seems to signal a setback in Intel's foundry strategy. As of 1:10 p.m. ET, Taiwan Semi stock was up 5.2%. Notably, Intel stock was also up today, gaining 3.5% at the same time.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool