5 Best Very Cheap Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 87

Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), which makes chips for some of the biggest tech companies in the world, including Apple, AMD and Nvidia,  saw its shares under pressure recently after the company gave a weak Q2 revenue guidance. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) expects its second quarter revenue to be between $15.2 billion and $16 billion, below $18.16 billion posted in the same quarter last year.

Susquehanna analyst Mehdi Hosseini has upgraded Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) and increased his price target for TSM to $126 from $76, saying the worst-case scenario was already priced in. The analyst believes the launch of new products would help Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM).

Wedgewood Partners made the following comment about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q1 2023 investor letter:

“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) contributed to performance as revenues grew +27% (in USD) from the year ago quarter. Despite this strength, the Company’s customers have seen near-term weakness in demand due to Covid-19 normalization as well as the launch timing of new products. However, the Company is well-positioned to continue a long-term growth trajectory because its leading-edge capacity is being absorbed by high-performance computing applications, particularly at nontraditional integrated circuit (IC) design houses, such as Apple, Alphabet and Amazon, which have become IC-design powerhouses over the past decade. Importantly, the Company’s aggressive investment in leading-edge equipment, tight development with fabless IC designers, and embrace of open development libraries, should continue to foster a superior competitive position and attractive long-term growth.”

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