Stock Movers: BlackRock Beats Estimates, TSMC's AI Outlook, Spotify Price Hike

BlackRock's Financial Performance

• 💰 BlackRock reported earnings of $13.16 per share, exceeding street estimates.
• 📈 The asset manager saw an addition of $350 billion in assets under management last quarter, contributing to its earnings.
• 🎯 BlackRock is actively growing its private market business, aiming to raise $400 billion by 2030.

TSMC's Strong Outlook and AI Demand

• 🚀 Taiwan Semiconductor Manufacturing Company (TSMC) announced a robust outlook, expecting 30% sales growth in 2026.
• 💡 The company plans significant capital expenditure of up to $56 billion this year to meet high demand, largely driven by the AI boom.
• 🤝 This increased spending by TSMC is expected to benefit its suppliers, such as Applied Materials, Lamb Research, and KLA Corp.

Spotify's Premium Price Increase

• 💸 Spotify is raising its premium subscription price in the US to $13 per month from $12.
• 📊 This move aims to achieve sustained profitability, with the price hike being the first for US consumers since 2024.
• 🔒 Research suggests Spotify users are highly likely to retain their subscriptions despite the price increase.