$Taiwan Semiconductor Manufacturing(TSM)$ I don't think using P/E ratio alone, without considering growth in context, is a reasonable way of assessing or comparing value. Its PEG ratio is well below its historical average, so I believe it is, in fact, undervalued. Additionally, considering the AI wave has just begun and the new fabs announced, I see this growth enduring for some years (as they mentioned, by the way). For me it is a strong buy.
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