5 AI Stocks in Focus on Wall Street: Tesla, Meta, and More

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

Number of Hedge Fund Holders: 224

On April 21, Barclays analyst Simon Coles raised the price target on the stock to $470 from $450 while maintaining an Overweight rating. TSM lands fourth on our list of AI Stocks in Focus on Wall Street.

The rating affirmation follows TSMC’s strong quarterly performance and earlier-than-expected guidance; reinforcing growth visibility.

Strengthening AI demand, the firm noted, continues to drive momentum for TSM and positions it as a core holding. Strong AI chip demand led the company to report a 58% increase in first-quarter profit, beating estimates.

Net income reached NT$572.48 billion for the three months ended in March, marking a fourth consecutive quarter of record earnings.

Another quarter of impressive delivery, a guidance upgrade earlier than expected with AI demand strengthening means momentum is set to continue.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells advanced chips used in artificial intelligence applications.