2 Backdoor Stocks to Take Advantage of the AI Revolution
There are many ways to invest in artificial intelligence (AI). Choosing companies directly involved with launching or integrating an AI product might be more flashy, but plenty of opportunities exist with businesses that supply crucial components.
That's where ASML (NASDAQ: ASML) and Taiwan Semiconductor Manufacturing (NYSE: TSM) fit in. Both are vital to the technology because of their products; without either, AI wouldn't be where it is today. Let's see if these two stocks would be good additions to your portfolio now.
Taiwan Semiconductor (or TSMC) is the world's largest contract chip manufacturer. This means it makes the chips for companies that want to design their own microchips but don't have the facilities to produce them. This makes TSMC a go-to partner for companies like Apple, Nvidia, and AMD because it has some of the most powerful technologies available.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
With 23 Buy predictions and not a single Sell prediction Taiwan Semiconductor Manufacturing Co. Ltd. ADR is an absolute favorite of our community.
As a result the target price of 160 € shows a slightly positive potential of 12.52% compared to the current price of 142.2 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
