TSMC's Q1 net profit rose 9% to NT$225.5 billion, surpassing expectations driven by strong AI chip demand.

Wall Street analyst Charles Shi raises TSMC price target to $168, considers it a top AI investment.

Despite earthquake-related challenges, TSMC is expected to recover lost sales and achieve its annual forecast.

TSMC predicts a 28% revenue increase in Q2, with AI processors' revenue expected to more than double by 2024.

TSMC shares fell nearly 5% following a cautious industry forecast, contributing to a broader chip sector downturn.

Super Micro Computer and Nvidia stocks dropped sharply due to earnings concerns and broader market sell-offs respectively.

Despite market volatility, analysts remain optimistic about the semiconductor industry's growth due to ongoing AI adoption.