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Buy TSM stock as ‘all AI roads must go through’ $TSM – analyst says

By: Invezz
buy tsm stock on ai roads susquehanna analyst

Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) has been in an uptrend since late September but a Susquehanna analyst says it’s not out of juice just yet.

TSM stock has upside to $160

Mehdi Hosseini continues to see the semiconductor behemoth as a “top long idea” with upside to $160 per share – up another 25% from here.

$TSM, he told clients in a research note today, is “undervalued” at writing considering “all AI roads must and will go through” it.

The bullish call arrives about a month after Taiwan Semiconductor Mfg. Co. Ltd. reported its financial results for the fourth quarter that handily topped Street estimates.

Note that the TSM stock has already gained more than 50% since the final week of September.

Watch here: market to drive upside for $TSM

Hosseini recommends owning $TSM as recent checks suggest smartphone-driven upside (modest) to wafer shipment expectations in the first quarter of 2024.

The analyst expects the NB end market as well to drive upside for the multinational based out of Hsinchu, Taiwan in Q2. His research note also reads:

Diversification in AI solution is considered positive for the breadth of wafer start/shipment at TSM while also smoothing out volatility of a single solution that was present during 2022-2023 period.

Nvidia overtook Amazon in market value on Monday, the latest milestone in a rally over the past year fueled by soaring demand for its chips used in AI computing

— Bloomberg (@business) February 12, 2024

A number of artificial intelligence configurations including but not limited to the H200, L40S, and the MI300 are expected to hit the market this year. TSM stock also pays a dividend yield of 1.51% which makes up for another good reason to have it in your portfolio.

The post Buy TSM stock as ‘all AI roads must go through’ $TSM – analyst says appeared first on Invezz

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