Taiwan Semiconductor Manufacturing Company (TSM) in Focus as Barclays Raises Target After Strong Earnings

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the 12 AI Stocks in Focus on Wall Street: Tesla, Meta, and More.

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.

Taiwan Semiconductor Manufacturing Company (TSM) in Focus as Barclays Raises Target After Strong Earnings

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.

While we acknowledge the risk and potential of TSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TSM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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