Taiwan Semiconductor Continues to Crush It. Does That Make the Stock a Buy in 2023?
Earnings season for the fourth quarter of 2022 kicked off last week with Taiwan Semiconductor Manufacturing (NYSE: TSM) -- otherwise known as TSMC -- releasing its quarterly results. The leading maker of high-end computer chips continued to impress investors, with shares soaring over 10% in the days following the press release. Even renowned investor Warren Buffett recently bought a stake in the business, purchasing $4 billion worth of stock for Berkshire Hathaway in the third quarter.
So what is drawing all these investors to buy TSMC? Let's find out -- and see whether you too should buy shares of the semiconductor giant in 2023.
TSMC's Q4 results showed strong growth and margin expansion, a theme for the business in 2022. Revenue grew 26.7% year over year to $19.9 billion for the last three months, which was driven by impressive growth from the company's high-performance computing customers. These customers include cloud infrastructure providers, artificial intelligence (AI) researchers, and other companies looking to build extremely fast computers.
Source Fool.com
