#1 - Taiwan Semiconductor Manufacturing (NYSE:TSM)
The first stock on the list is an obvious choice. Taiwan Semiconductor Manufacturing (NYSE:TSM) is the world’s largest contract chipmaker. At some point, the United States will have to break away from its reliance on semiconductors from China and Taiwan. But that’s a longer-term issue. In the short-term, Taiwan Semiconductor will undoubtedly have a role to play in breaking the current supply shortage.
In fact, the company is planning a $28 billion capital expenditure this year to meet the forecast demand. This includes $12 billion to build a plant in Arizona. That announcement sent the TSM stock price down as the company will have to contend with recently rising rates. But that should be a momentary bump in the road. The company continues to show strong growth. In its most recent quarter, the company reported Non-GAAP EPS growth of nearly 25%. And despite the recent dip, TSM stock is still up 15% in 2021.
About Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally. It provides a range of wafer fabrication processes, including processes to manufacture complementary metal- oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.
Read More - Current Price
- $149.26
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 3 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $157.00 (5.2% Upside)
