US chipmakers recover from tech rout after TSMC beats Q2 profit estimates
** Shares of U.S. chipmakers gain premarket after Taiwan Semiconductor Manufacturing TSM.N beat profit estimates for Q2
** The contract chipmaker expects higher revenue in its current quarter as AI drives demand, sending its U.S.-listed shares 3.6% higher
** TSMC's upbeat forecast helps U.S. chipmakers rebound after reports of possible China trade worries sparked a tech sell-off on Wall Street
** The Philadelphia Semiconductor Index .SOX ended 6.8% lower on Wednesday, logging its worst day in more than four years and shedding over $500 billion in market value
** AI chipmaker Nvidia NVDA.O rebounds with a 2.9% gain and memory chipmaker Micron Technology MU.O edges up 2.1%
** Networking chipmakers Broadcom AVGO.O and Marvel Technology MRVL.O rise 1.8% and 2.2%, respectively, while smartphone chipmaker Qualcomm QCOM.O adds 1.4%
** Advanced Micro Devices AMD.O and Intel INTC.O - that make chips for personal computers, servers and AI chips - climb 2.5% and 2.2%, respectively
** Shares of chip-making equipment companies like Applied Materials AMAT.O and Lam Research LRCX.O gain over 1% each
** The iShares Semiconductor ETF SOXX.O was up 1.9% while the VanEck Semiconductor ETF SMH.O inched up 2.1%
** The semiconductor index was trading at record highs earlier in the month and has added over 29% YTD vs a 17% rise in the benchmark S&P 500 .SPX
Reporting by Purvi Agarwal in Bengaluru
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