The revelation that Warren Buffett bought 60 million shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) in the third quarter changed the way investors and the market viewed this leading manufacturer of semiconductor chips.

Although it has a market share of over 50% in the contract chip manufacturing industry, the combination of a global chip shortage, trade issues, and geopolitical tensions with China has weighed heavily on its stock, which at one point this year had fallen by 60% from its peak. However, a better-than-expected third-quarter earnings report and Buffett's stock purchase have propelled the shares back upward, though they are still down 37% year to date.

Despite the surge in the share price that took place over the past month, investors may still want to take a close look at Taiwan Semiconductor for their own portfolios now, because it may be a long time before it's this cheap again.

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Source Fool.com