5 Best Semiconductor Stocks To Buy For The AI Boom

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

Number of Hedge Fund Holders: 102

Out of the 943 hedge funds tracked by Insider Monkey in the first quarter, 102 funds were long Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), with a total stake value of $8.9 billion.

Mehdi Hosseini at Susquehanna holds a Positive rating on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) shares as of June 16, alongside a $128 price target.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) offers cutting-edge AI processors used by big tech companies across the US today, alongside other semiconductor products and solutions.

Here’s what Baron Funds said about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its first-quarter 2023 investor letter:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) contributed in the first quarter due to easing geopolitical concerns and expectations for end-demand recovery later in 2023. We retain conviction that Taiwan Semi’s technological leadership; pricing power; and exposure to secular growth markets, including high-performance computing, automotive, 5G, and IoT; will allow the company to sustain strong earnings growth over the next several years.”

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