5 Best Reddit Stocks to Buy Now

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This article presents an overview of the 5 Best Reddit Stocks to Buy Now. For a detailed overview of such stocks, read our article, 13 Best Reddit Stocks to Buy Now.

5. Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM)

Number of Hedge Fund Investors: 105

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is one of the most popular stocks on Reddit for 2024 and beyond. Redditors believe Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is undervalued. One Redditor said on a latest discussion thread that Taiwan Semiconductor Mfg. Co. Ltd.’s (NYSE:TSM) “realistic” valuation is $1 trillion. Here’s another comment on Reddit that sums up the bullish thesis of many retail investors on the social media platform:

“TSM not only builds the largest chip designer chips, but they’ll be building the chips for Amazon, Google, Meta, etc etc

And they should have the Arizona fab up soon along with the Germany fab. Then the more advanced fabs up by 2027. They’ve prepared for the CAPEX and are positioned well.”

As of the end of the fourth quarter of 2023, 105 hedge funds tracked by Insider Monkey had stakes in Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM).

Polen International Growth Strategy stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its fourth quarter 2023 investor letter:

“The largest relative detractors to the Portfolio’s performance during the fourth quarter were Aon Plc, Unilever Plc, and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) (not owned). Though we do not currently own it in the Portfolio, Taiwan Semiconductor was one of the larger relative detractors from performance during the quarter due to its strong performance and comparatively greater index weight.”

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