19 Trending AI Stocks on Latest Analyst Ratings and News

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

Number of Hedge Fund Holders: 156  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. JP Morgan has highlighted the strong sales in August for the chipmaker and suggested the global foundry could surpass third-quarter guidance. In a recent investor note, the advisory kept an Overweight rating on the stock with a NT$1200 price target. Analysts at JP Morgan noted that September revenues were likely to remain flattish or grow slightly month-over-month, helped by the ramp for iPhone processors and continued strength in N3/N5 demand. The August sales for TSM grew about 33% year-over-year to NT$250 billion, and reached 68% of JPM estimates for the third quarter of 2024.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) could post a healthy 10% quarter-over-quarter growth as well, helped by continued iPhone processor demand and new Android SoC launches from Qualcomm and Mediatek helping to steer further upside in N3, per the analysts, who added that they expected Street consensus to continue to be revised up in the next 12 months due to better revenue momentum and upside in gross margins due to price hikes and better N3 yields.

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