Why Taiwan Semiconductor (TSM) Stock Is Gaining Today

NEW YORK (TheStreet) -- Taiwan Semiconductor (TSM) shares are up 1.3% to $22.27 on Wednesday after analysts at JPMorgan (JPM) raised earnings estimates for the Apple (AAPL) supplier.

The firm raised its full year 2014 EPS estimates by 3% and its 2015 estimates by 2%, with increased revenue coming in the second half of this year just as Apple is set to launch the iPhone 6 and its latest iPad.

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The firm expects Apple orders to represent 13% of the company's third quarter revenue and 15% of its fourth quarter revenue, up from 4% in the second quarter.

"Given the staggered launch of new Apple products (iPhones in September, iPads in 4Q14 and a potential larger iPad in 1H15) which will all migrate to 20nm application processors at TSMC, we expect the strength for 20nm products to continue into 4Q14," said analysts at the firm.

TheStreet Ratings team rates TAIWAN SEMICONDUCTOR MFG CO as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

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