If you're getting your shopping list ready for the anticipated end of interest rate hikes and, perhaps, a new bull market, chip stocks are a reasonable place to look for robust growth. To that end, investors may choose to expand their geographic horizons and consider a share position in semiconductor manufacturing giant Taiwan Semiconductor Manufacturing (NYSE: TSM).

With a market share of 55.5% in 2022, Taiwan Semiconductor is the undisputed heavyweight champion of the global Semiconductor foundry industry. Yet, even a champion can't win every round and Taiwan Semiconductor finally had an ostensibly "bad" quarter in 2023.

Still, the company's quarterly stats had some bright spots and the market's disappointment is probably already reflected in Taiwan Semiconductor's share price and valuation, which is quite reasonable now. Besides, with its multinational ambitions, Taiwan Semiconductor looks unstoppable irrespective of short-term stock traders' concerns.

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Source Fool.com