Commentary
Most of the early reports of first-quarter earnings and sales came from financial companies, and most of them reported very good results. Goldman Sachs (GS) kicked off the earnings announcement season with its strongest result in the past five years. Then, JPMorgan (JPM) posted a big beat on Tuesday, followed by Taiwan Semiconductor (TSM) on Wednesday, announcing 41% annual sales growth and 58% earnings growth – both exceeding analyst expectations – which got many investors excited about data center and AI stocks.
