Taiwan Semiconductor Manufacturing (NYSE: TSM) operates the world's most advanced chip foundries. It manufactures the industry's smallest and most power-efficient chips for chipmakers like Advanced Micro Devices (NASDAQ: AMD), Qualcomm (NASDAQ: QCOM), NVIDIA, and Apple (NASDAQ: AAPL).
As a linchpin of the global semiconductor industry, TSMC profits from the market's current insatiable appetite for new chips. Over the past five years, its stock price has more than quadrupled as faster wireless connections, the expansion of the data center and Internet of Things (IoT) markets, new 5G and AI applications, and more advanced electronic devices have all sparked feverish demand for new chips.
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Source Fool.com