In this article, we will take a look at the 5 quantum computing stocks billionaires are piling into. If you want to go through our detailed analysis of the industry and its growth prospects, go to the 9 Quantum Computing Stocks Billionaires Are Piling Into.
5. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 107
Number of Billionaire Investors: 20
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a leading Taiwanese semiconductor manufacturing firm that focuses on producing chips for companies such as NVIDIA Corporation (NASDAQ:NVDA). In November, the company provided encouraging updates to investors, revealing its first monthly uptick in sales since February. This positive development was attributed to increased demand for smartphones and artificial intelligence. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has begun delving into quantum computing through a five-year strategic partnership with Taiwan’s Ministry of Science and Technology. This collaboration serves as a cornerstone in TSM’s strategy to leverage its newly established cloud computing platform for the development of quantum computing applications destined for the commercial market.
On November 13, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) announced a significant 34.8% month-over-month increase in its October net revenue, reaching nearly NT$243.2 billion, accompanied by a year-over-year growth of 15.7%.
In the third quarter of 2023, 107 hedge funds had ownership of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Fisher Asset Management emerged as the primary investor in the company, augmenting its holdings to 30.637 million shares, valued at $2.66 billion.
Wedgewood Partners talked about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its third quarter 2023 investor letter. Here is what it said:
“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted from performance, as revenues declined 10% from a year ago. The Company is lapping revenue growth of over +40% (compared to 2022) during every quarter of 2023, so it is more instructive to look at the health of the business through the lens of a multi-year timeframe. Most of the Company’s customers have seen near-term weakness in demand due to pandemic normalization. However, we think the longer-term trend of more silicon per device is still very much intact, and the Company is well-positioned to serve this, given its commanding market share in leading edge capacity. The Company’s aggressive investment in leading-edge equipment combined with tight development with fabless IC designers, plus the embrace of open development libraries, should continue to foster a superior competitive position and attractive long-term growth.”
