20 Trending AI Stocks on Latest News and Analyst Ratings

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. JPMorgan recently noted that the strong sales data for August released by the chipmaker suggests that TSM will surpass third quarter guidance numbers. In an investor note, the advisory maintained an Overweight rating on the stock with a price target of NT$1,200. Analysts at JPMorgan, led by Gokul Hariharan, underlined that September revenues for the firm 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. Earlier this week, TSM released sales numbers for August, reporting 33% year-over-year growth in sales.

Per the analysts, the third quarter revenues of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) could slightly exceed the high-end of the guidance range, due to strong N3 (the 3nm process technology) demand, continued demand for N5 from AI accelerators and other High-Performance Computing, or HPC, products. The analysts expect the fourth quarter to see 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.