It doesn't take much looking around to see the digital transformation the world is to undergoing. Smartphones are glued to people's hands, electric cars are increasingly appearing, and there's no shortage of gadgets to "smartify" homes. Even wilder is that much of this has happened in the past couple of decades.

Behind many of these electronics that now seem inescapable are semiconductor chips, which power them. Unfortunately, shortage issues started during the COVID-19 pandemic, and have continued. Despite these challenges, investors with a longer timeframe can invest in one of tech's most important businesses: Taiwan Semiconductor Manufacturing Company (NYSE: TSM), or TSMC.

Part of what established TSMC as the global chip leader is the foundry model it pioneered. TSMC doesn't make chips that people or companies can buy online or at a retail store like typical electronics. Instead, the company makes chips designed for other companies' specific needs. It's like ordering custom-tailored clothing instead of buying something off the rack.

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Source Fool.com