Taiwan Semiconductor Hails a "New Golden Age" for Chips. Is It Time to Buy the Stock?
Executives at Taiwan Semiconductor Manufacturing (NYSE: TSM), or TSMC for short, recently said at an event that we are in a "new golden age" for chips. These executives also forecast 10% annual growth for the global semiconductor industry, excluding memory chips. For its part, TSMC has been forecasting revenue growth of over 20% in 2024.
Let's take a closer look at TSMC and why it could be one of the biggest beneficiaries of the strong market for semiconductors.
Today, many semiconductor companies, including Nvidia, use what is known as a fabless semiconductor model. What that means is that they just design the chips but don't do any of the actual manufacturing. Instead, the manufacturing is left to semiconductor contract manufacturing companies that specialize in manufacturing chips in their fabrication facilitates, or foundries.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
The stock is an absolute favorite of our community with 34 Buy predictions and no Sell predictions.
With a target price of 180 € there is a slightly positive potential of 10.16% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 163.4 €.
