The chip manufacturing giant's potent technology is capturing AI demand.
Will the world's largest contract chipmaker split its high-flying stock?
TSMC's stock is trading at an all-time high, but the room for growth remains large.
Sales are accelerating, and management sees this as the early stages of a sustainable rebound.
Taiwan Semiconductor Manufacturing Company (TSMC) has firmly denied being investigated by US authorities over its dealings with Huawei, following reports that its chips were found in the Chinese tech giant's products.
TSMC has denied a report that it is under investigation by the U.S. Commerce department for supposed dealings with Chinese tech company Huawei. The statement comes a day after a separate report claimed that a TSMC chip had been found in a Huawei product.
Taiwan Semiconductor Manufacturing Company notified the U.S. a couple of weeks ago that one of its chips had been found in a Huawei device after a teardown by the tech research firm TechInsights, according to a person familiar with the matter.
TSMC's stock has surged 105.15% since my strong buy recommendation in November 2023, driven by a rebound in smartphones and PCs and a positive semiconductor cycle. The company's Foundry 2.0 expansion includes packaging, testing, and mask-making, broadening its market opportunities and potentially mitigating antitrust concerns. TSMC's robust AI demand and advanced process technologies are expected to drive near-30% annual revenue growth over the next four years.
Recently, Zacks.com users have been paying close attention to TSMC (TSM). This makes it worthwhile to examine what the stock has in store.
The GPU market is projected to eclipse $1 trillion by the next decade, according to Precedence Research.
Taiwan Semiconductor Manufacturing Company said it has informed the U.S. of a potential attempt to have it manufacture AI chips for China's Huawei in circumvention of export controls, the Financial Times reported on Tuesday.
The stock's valuation has risen, but its outlook remains bright.