Semiconductor stocks have lost their wheels in 2022 following two years of solid growth as concerns over slowing chip demand, high inflation, restrictions on sales of chips to China, and the prevalent gloom in the market have dealt a crushing blow to some high-profile names this year. But there's one company that's growing at a terrific pace despite the headwinds.

Taiwan Semiconductor Manufacturing Company (NYSE: TSM), popularly known as TSMC, delivered solid third-quarter results on Oct. 13 that crushed Wall Street's expectations. The world's leading semiconductor foundry by market share also delivered healthy guidance for the current quarter that points toward sustained growth in its business.

Let's look at what's driving TSMC's growth and why this semiconductor stock could turn out to be a top long-term pick that investors may regret not buying while it is still down.

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Source Fool.com