10 Most Profitable NYSE Stocks to Buy Now

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1. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

TTM Net Income: $44.3 billion

Number of Hedge Fund Holders: 187

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the top most profitable NYSE stocks to buy now. On August 5, Reuters reported that Taiwanese authorities detained three people for the alleged theft of technology trade secrets from Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), according to statements by Taiwanese prosecutors released on Tuesday.

The Taiwan High Prosecutors Office said in a statement that this occurred after Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) reported that an internal investigation caught former and current employees illegally obtaining information from the company. According to the prosecutor office, two other people had been released on bail, while one more had been released.

Earlier on Tuesday, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) announced the launch of legal proceedings and disciplinary action against employees who were potentially involved in the leak of trade secrets after it detected unauthorized activities during routine monitoring.

The company stated that its “comprehensive and robust monitoring mechanisms” allowed it to catch the issue early, resulting in internal investigations and measures against the personnel involved.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the largest contract semiconductor manufacturer in the world. Some of its prominent customers include semiconductor companies that outsource all or part of their chip production, including Advanced Micro Devices, Nvidia, Broadcom, and more.

While we acknowledge the potential of TSM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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