2 Backdoor Stocks to Take Advantage of the AI Revolution
There are many ways to invest in artificial intelligence (AI). Choosing companies directly involved with launching or integrating an AI product might be more flashy, but plenty of opportunities exist with businesses that supply crucial components.
That's where ASML (NASDAQ: ASML) and Taiwan Semiconductor Manufacturing (NYSE: TSM) fit in. Both are vital to the technology because of their products; without either, AI wouldn't be where it is today. Let's see if these two stocks would be good additions to your portfolio now.
Taiwan Semiconductor (or TSMC) is the world's largest contract chip manufacturer. This means it makes the chips for companies that want to design their own microchips but don't have the facilities to produce them. This makes TSMC a go-to partner for companies like Apple, Nvidia, and AMD because it has some of the most powerful technologies available.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
Taiwan Semiconductor Manufacturing Co. Ltd. ADR is currently one of the favorites of our community with 17 Buy predictions and no Sell predictions.
With a target price of 150 € there is a slightly positive potential of 16.46% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 128.8 €.
