12 Best Global Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 186  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a Taiwan-based company mainly engaged in the provision of integrated circuit manufacturing services. As per the fourth quarter, revenue grew by 38.8% year-over-year, while net income and diluted EPS saw a significant increase of 57%. In February, media reports indicated that the company is taking an extremely cautious approach to ensure it complies with new US export restrictions on China’s chip sector. TSM has told its Chinese customers using 16-nanometer or better technology that it won’t complete their orders unless they use chip packaging services from US-approved suppliers.

While we acknowledge the potential of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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