TSMC Had a Down Year in 2022. Why the Stock Is a Buy in 2023.
Taiwan Semiconductor Manufacturing (NYSE: TSM), also known as TSMC, was down 42% in 2022 due to investor angst about high inflation and rising interest rates, fears of collapsing demand for chips, and legitimate concerns over what a global recession could mean for the business in 2023.
But despite the stock's decline in 2022, many investors have put it on their buy list for 2023.
TSMC is the largest semiconductor contract manufacturer (or foundry) in the world. According to market research company TrendForce, TSMC grew its foundry market share to 56.1% in the third quarter of 2022, while in second place, Samsung's market share fell 10 basis points to 15.5%.
Source Fool.com
