Is This 1 Stock the Next $1 Trillion Business Hiding in Plain Sight?
In spite of its first annual revenue decline since 2019, shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) had a solid 2023. The stock rallied 40% on the year, and its market capitalization as of this writing is hovering around $530 billion.
It may be easy to write off TSMC's 2023 performance as attributable to AI hype, but there could be a far simpler reason for the stock's comeback. Is this the next $1 trillion tech giant hiding in plain sight?
Much has been said about Nvidia's incredible success with its AI chips and systems, and TSMC will continue to be a beneficiary of that new computing technology since Nvidia is a big customer.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
€128.80
-0.460%
With 17 Buy predictions and not the single Sell prediction the community is currently very high on Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
As a result the target price of 150 € shows a slightly positive potential of 16.46% compared to the current price of 128.8 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
