The importance of semiconductor chips has become more evident as the world has become more digital. Unfortunately, COVID-19 and its lingering supply chain effects have caused a shortage of chips in the past few years. While the worst may be over for the chip shortage, we're still not in the clear.

Despite the shortage, there's one company that presents investors will a compelling long-term opportunity: Taiwan Semiconductor Manufacturing (NYSE: TSM). TSMC is the world's leading semiconductor foundry, specializing in personalized advanced chips. You may not know TSMC by name, but it's all but guaranteed that you own a product using their chip(s) if you own any electronics. They're in smartphones, car entertainment systems, computers, and many other consumer electronics. 

Rather than mass-producing chips for general sale, TSMC builds chips specifically designed for their client's respective needs. It's a business model that's boosted TSMC to become the 10th-most valuable public company in the world.

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Source Fool.com