Macroeconomic Uncertainties Affected Taiwan Semiconductor (TSM)’s Performance

Baron Funds, an asset management company, released its “Baron New Asia Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 7.89% in the second quarter compared to a 9.00% decline for its benchmark index, the MSCI AC Asia ex Japan Index. Driven by the reversal and modest recovery of China-related equities, the fund outperformed its benchmark index and the all-cap growth proxy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in the second quarter investor letter. Headquartered in Hsinchu City, Taiwan, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) engages in the business of integrated circuits and other semiconductor devices. September 9, 2022, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock closed at $81.53 per share. One-month return of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was -10.27% and its shares lost 33.70% of their value over the last 52 weeks. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)  has a market capitalization of $418.333 billion.

Here is what Baron Funds specifically said about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q2 2022 investor letter:

“Semiconductor giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) detracted in the second quarter due to macroeconomic uncertainties and softening demand for consumer electronics. We retain conviction that Taiwan Semi’s technological leadership, pricing power, and exposure to secular growth markets, including high-performance computing, automotive, and IoT, will allow the company to deliver strong revenue growth over the next several years.”

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Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 72 hedge fund portfolios held Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) at the end of the second quarter which was 81 in the previous quarter.

We discussed Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in another article and shared The Mercator International Opportunity fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.