Taiwan Semiconductor (TSM) looks interesting after a recent pullback
Helping, JP Morgan just reiterated its overweight rating on the stock, noting, “TSMC’s role as the key enabler for AI semis is becoming more established and we expect it to retain 90+% market share of all AI. All roads in AI semis lead here,” as quoted by CNBC.
“TSMC’s moat in AI semis appears wider than in previous product cycles, due to leading process technology, tightly integrated packaging methods, and support from the broadest IP and design service ecosystem in the semi-industry,” they added.
From a current price of $140.23, we’d like to see TSM initially retest $157.76.