#4 - Taiwan Semiconductor Manufacturing (NYSE:TSM)
Buying stocks that Warren Buffett buys may not be the right reason to buy a stock, but it's likely not the wrong reason, either. That’s the reason that Taiwan Semiconductor Manufacturing (NYSE: TSM) makes this list of Reddit stocks to buy in 2023, but it’s not the only reason.
Taiwan Semiconductor doesn’t make its own chips. Rather, as its name suggests, it facilitates making chips for other companies. Two of the company’s notable clients include Nvidia Co. (NASDAQ: NVDA) and Qualcomm (NASDAQ: QCOM). The latter provides chips for Apple (NASDAQ: AAPL).
All that said, the stock has one significant risk. Some U.S. defense experts have signaled that China will invade Taiwan sometime in 2023. This makes it all the more reason for the company to complete construction on the $12 billion semiconductor plant it is building in Arizona. Not only does it diversify the company’s supply chain, it also allows it to take advantage of the U.S. Chips Act.
According to analysts tracked by MarketBeat, TSM stock has a consensus stock price that gives it an upside of over 45%.
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
- $197.21
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $214.00 (8.5% Upside)
