Top 10 AI News You Shouldn’t Miss

2. Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM)

Number of Hedge Fund Investors: 158

Evercore ISI recently said the market is expected to experience more of what it saw in 2024, with the investment firm expressing a positive outlook for Information Technology in 2025, calling it “Fill IT up again.”

The firm emphasized that “the bull market in the S&P remains strong” and expects “another 22% upside to 7,200 in 2025.” Currently, the benchmark index stands at 5,940 as the new year begins.

Backing its optimistic view is the Information Technology sector, with Evercore ISI predicting tech will once again lead the market higher. Within the sector, both semiconductors and software were highlighted.

On Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), the firm stated, “semis are coiled for a major move higher,” pointing to high-conviction positions including Broadcom.

ClearBridge All Cap Growth Strategy stated the following regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q3 2024 investor letter:

“While the Strategy continues to have a significant position in Nvidia, we are underweight semiconductors versus the benchmark. We added to our semiconductor positioning during the quarter with the purchase of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). TSM, an out-of-benchmark name, is the world’s fabrication production provider of choice. The criticality and sophistication of its manufacturing footprint powers all of the leading edge fabless global semiconductor companies, including Apple, Nvidia, Qualcomm, AMD and Broadcom. While AI has driven upside in data centers, PCs and handsets are at cycle lows, positioning half of the company’s business for a recovery.”