2 Top Artificial Intelligence (AI) Stocks to Buy Following Nvidia's Blockbuster Earnings
Artificial intelligence (AI) pioneer Nvidia delivered an outstanding quarterly report that crushed Wall Street's expectations, sending shares of the chipmaker soaring as it became clear that AI is going to remain a big growth driver for the company. However, Nvidia wasn't the only semiconductor stock that benefited from its impressive showing.
Shares of Advanced Micro Devices (NASDAQ: AMD) and Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, also enjoyed a bounce following Nvidia's report. Let's see why that was the case and check why it could be worth buying these two names right away.
TSMC stock jumped more than 3% after Nvidia released its earnings. That wasn't surprising since Nvidia relies on TSMC's foundries to churn out its AI chips. Nvidia is a fabless semiconductor company, which means that it only designs chips; the manufacturing is done by foundries such as TSMC.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 173 € there is a slightly positive potential of 13.07% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 153.0 €.
