This Magnificent Artificial Intelligence (AI) Stock Is About to Step on the Gas, and It Is Cheap Right Now
Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) received a big boost last week after the company, which is popularly known as TSMC, reported a terrific surge in its monthly revenue for October.
The Taiwan-based foundry giant reported October revenue of 243.2 billion Taiwanese dollars ($7.7 billion), up 16% year over year. The increase was particularly impressive on a sequential basis, as TSMC's revenue jumped almost 35% month over month. Investors were overjoyed to see the company's healthy growth, as it has struggled to grow its revenue in 2023 so far due to a weak smartphone market.
TSMC's revenue has dropped 6% year over year in the first nine months of 2023 to NT$1.54 trillion ($49.7 billion). But the company's latest monthly revenue report suggests that it could end the year strongly, and even sustain its momentum for a long time to come.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
The stock is an absolute favorite of our community with 23 Buy predictions and no Sell predictions.
With a target price of 160 € there is a positive potential of 35.14% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 118.4 €.
