Taiwan Semiconductor Manufacturing (NYSE: TSM) is the clear-cut leader in the semiconductor fabrication space. By some accounts, it currently accounts for about 58% of the global market for contract chip manufacturing, and it's responsible for making more than 90% of ultra-high-end semiconductors.

The fab leader undoubtedly has a lot of things going for it, but investors can't dismiss the potential bearish catalysts out of hand. If you're thinking about buying TSMC stock or already own it, read on for a look at potential dynamics and events that could determine what comes next for the company. 

Think of some big names in the tech industry -- it's virtually certain that these companies rely either directly or indirectly on chips made at TSMC's fabrication plants. 

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Source Fool.com