Taiwan Semiconductor Manufacturing  (NYSE: TSM) has had a great 2024, as it's up more than 80%. With that kind of performance in the rear-view mirror, many investors may wonder if they've missed the boat.

Possibly not: Several positive trends are on the horizon, and this could be the start of something even bigger.

Taiwan Semiconductor is the world's largest contract chip manufacturer. Essentially, it specializes in producing the chips designed by better-known tech names such as Apple, Nvidia, and AMD. This allows its customers to stay relatively asset light and avoid investing in the highly specialized infrastructure required to manufacture the chips.

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Source Fool.com