https://wccftech.com/what-idm-2-0-slump-tsmc-continues-recovery-hitting-weekly-high/

Fears from investors that Intel (NASDAQ:INTC) would be taking a material amount of Taiwan Semiconductor Manufacturing Company’s (TPE:2330) business seem to have subsided, as the IDM 2.0 sell-off by foreign investors has flipped this week with a buy-back and the company’s stock breaching past the 600 NTD mark.

Data from the Taiwan Stock Exchange shows that in the two days after Intel’s IDM 2.0 announcement foreign investors sold off approximately 81 million shares of TSMC stock. Local retail dealers also sold off 765,487 units while local security trust companies bought approximately 240,000 units. But as consensus formed that Intel’s foundry play might not be the threat to TSMC that some had imagined — and perhaps instead compliment it — investor sentiment changed. As the trading week began in Taipei, foreign investors bought back 6.8 million shares.