No matter what technology you're talking about -- electric vehicles, artificial intelligence, smartphones, or practically any other high technology area -- they utilize a massive amount of chips. As a result, a neutral company like Taiwan Semiconductor Manufacturing Company (NYSE: TSM), also known as TSMC, makes for an excellent investment.

It also looks like a great value right now, and buying it now could make you look like a stock-investing genius in 2024.

TSMC is the world's largest contract chip manufacturer, which means it outsources its abilities to hardware producers like Apple and Nvidia. While it won't reach the highs that many of these businesses do, it won't go as low during a downturn. This makes TSMC an excellent investment for those who want exposure to tech but also want to be a bit more conservative.

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Source Fool.com