$Taiwan Semiconductor Manufacturing(TSM)$We’re going to end this list with a couple of chip stocks, starting withTaiwan Semiconductor(NYSE:TSM). Shares of this great company have been crushed this year, as have many other tech names. Despite the selloff, business continues to hum along quite well. In mid-July, the company delivered a top- and bottom-line earnings beat and above-consensus forecast for its third-quarter results.
Maybe it’s because it’s not as well-known as some other prominent U.S.-based technology firms. However, TSM stock is not one to be ignored despite its $436 billion market capitalization and 2.2% dividend yield.
The company is forecast to grow sales almost 33% this year and 10% next year. On the earnings front, analysts expect 50% growth this year, although just single-digit growth in 2023. However, at less than 14 times this year’s earnings, this stock is cheap relative to the S&P 500.
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