1 Incredibly Cheap Artificial Intelligence Stock to Buy Before It Jumps 88%
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, have underperformed the broader semiconductor sector in 2023 thanks to the company's tepid growth. But it looks like the foundry giant could finish the year on a solid note following its latest quarterly report.
TSMC stock jumped after the company released its third-quarter results on Oct. 19. The semiconductor bellwether's revenue and earnings comfortably exceeded Wall Street's expectations, and its guidance suggests that its recent struggles may finally be coming to an end. This could bode well for TSMC investors who have seen the stock gain only 15% so far this year versus the PHLX Semiconductor Sector index's gain of 27%.
With the stock currently trading at an attractive valuation, it may be a good idea for investors to consider buying TSMC as it's set to capitalize on the growing demand for artificial intelligence (AI) chips. Let's take a closer look at the factors driving an improvement in TSMC's fortunes.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
The stock is one of the favorites of our community with 25 Buy predictions and 1 Sell predictions.
With a target price of 173 € there is a slightly positive potential of 11.33% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 155.4 €.
