We Are We previously covered Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in October 2023, discussing the promising bottoming of the semiconductor cycle, further aided by the timely PC/ server/ smartphone refresh cycles since the pandemic boom. Thanks to the robust demand for Generative AI and growing global footprint, we believed the foundry’s prospects appeared to…
JHVEPhoto/iStock Editorial via Getty Images The TSMC Investment Thesis Taiwan Semiconductor Manufacturing Company (NYSE:TSM) or most commonly referred to as TSMC is the heart of today’s economy. This is because semiconductors are now a key part of nearly every type of electronic device, from cars to smart phones. Most people are probably not aware that…
Annabelle Chih/Getty Images News Investment Thesis TSMC (NYSE:TSM) is and will likely remain for years to come a prudent choice to invest in the semiconductor industry, which has been and is expected to remain a growing market over time. As a (pure play) foundry, TSMC derives its revenue from hundreds of customers, including a dozen…
Annabelle Chih Taiwan is once again at the center of attention, as Beijing has signaled publicly and privately that the ‘reunification’ of the island with the mainland is only a matter of time. While no one knows for sure what’s going to happen with Taiwan in the foreseeable future, the rise of tensions in the…
AYOTOGRAPHY/iStock via Getty Images This article was coproduced with Chuck Walston. Back in December, I provided an article on Taiwan Semiconductor (NYSE:TSM) in which I issued a rare Strong Buy rating. Since then, shares are up nearly 31% vs. a 19% gain for the S&P 500. A follow-up piece I authored in the first week…
FredFroese /iStock via Getty Images We reiterate our buy rating on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) aka TSMC. While the slower-than-expected Chinese recovery and macro headwinds pressuring end demand momentum continue, we think the TSMC stock has now priced in the negatives; the stock has underperformed the S&P 500 (SP500) slightly since our cautious…
Annabelle Chih Introduction I upgrade my rating on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) from a Buy to a Strong Buy following a number of recent developments, its Q2 financial results, and a decline in the share price. I last covered TSMC two months ago when I rated the shares a buy. I highly recommend…
Olivier Le Moal Introduction I covered Taiwan Semiconductor (NYSE:TSM) back in October 2022 under the headline of “Taiwan Semiconductor: I’m Buying And Here Is Why”. At the time, the stock was trading at its lowest valuation since 2016 and appeared to be a sensible opportunity from both a P/S, P/E and EV/EBITDA perspective. Since then,…
Annabelle Chih Introduction My thesis is that there is no chip manufacturer more important for the smartphone industry than TSMC (NYSE:TSM). Apple’s (AAPL) iPhone can’t exist without TSMC chips. Other major smartphone industry companies like Qualcomm (QCOM) and Huawei have a deep history with TSMC. Smartphones require small leading edge chips for optimal battery life…