Jim Cramer Says “Taiwan Semi Made Mincemeat of the Skeptics Who’ve Been Doubting AI’s Staying Power”

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the stocks Jim Cramer put under a microscope. Cramer highlighted the “off the charts” demand for the company’s chips, as he stated:

“Do you know that the fate of today’s market was decided at 12:30 AM Eastern time? Yeah, middle of the night. That’s when Taiwan Semiconductor, the biggest chip manufacturer in the world, reported one of the strongest quarters I have ever seen. That’s when we learned in a definitively bullish conference call that the artificial intelligence doubters may have no idea what they are talking about when they keep talking about a bubble, because demand for these AI chips is off the charts.

That’s when we found out that the only company with real insight into the long-term demand for advanced semiconductors just can’t make enough of them fast enough. Taiwan Semi has to spend more than $50 billion just to keep up with its current orders. Its stock was up about 20 bucks before most of you woke up… Just as important, Taiwan Semi made mincemeat of the skeptics who’ve been doubting AI’s staying power. They said something we have only heard from Jensen Huang, CEO of NVIDIA. The demand is insatiable and, more important, the profits, they could be humongous for the customers.”

Pixabay/Public Domain

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) produces and sells integrated circuits and semiconductor devices. The company provides fabrication and other related services.

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Disclosure: None. This article is originally published at Insider Monkey.