Does TSMC (TSM) have what it takes to be a top stock pick for momentum investors? Let's find out.
The US Department of Commerce has finalized a more than $6.1 billion subsidy for chipmaker Micron Technology Inc (NASDAQ:MU) for the construction of domestic semiconductor facilities. The investment marks one of the largest awards to chipmakers from the Biden administration under the CHIPS and Science Act, which includes a $7.86 billion award to Intel Corp (NASDAQ:INTC, ETR:INL) and $6.6 billion for Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM)'s US unit.
TSM stock is near a buy point after gapping up on a "blowout quarter" on Oct. 17. The stock is on the IBD global leaders list.
The sales surge signals the chip maker's continued momentum amid the artificial-intelligence boom, though investors weren't enthused.
TSMC's sales have surged over the past two years on the back of booming demand for advanced microchips following the launch of ChatGPT in Nov. 2022
Global microchip manufacturing leader Taiwan Semiconductor Manufacturing Company (TSMC) saw a 34% year-on-year increase in net revenues in November and a 32% increase in between January and November. Sales equated to approximately £6.7 billion (US$8.5 million) in November and more than £63 billion (US$80 billion) in the January-November period.
Steve Weiss, founder and managing partner at Short Hills Capital Partners, joins CNBC's 'Halftime Report' to discuss why he's trimming the chip stock.
Recently, Zacks.com users have been paying close attention to TSMC (TSM). This makes it worthwhile to examine what the stock has in store.
TSM's premium P/E reflects its AI-driven dominance, robust growth and innovation, making it a compelling long-term investment.
Taiwan Semiconductor Manufacturing (TSM 1.80%) is one of the world's most important companies. Its manufacturing and technological capabilities are greater than those of its competitors, which is why it makes chips for nearly every leading tech company globally.
Taiwan Semiconductor (TSM 1.80%) might not be a household name, but it's probably the most important company most people have never heard of.
In the latest trading session, TSMC (TSM) closed at $204.30, marking a +1.8% move from the previous day.