Invest in TSMC for AI growth potential
CNBC — March 26, 2024, 06:00 PM UTC
Summary: JPMorgan analyst Gokul Hariharan recommends investing in Taiwan Semiconductor Manufacturing (TSMC) for exposure to the AI boom. TSMC supplies chips to major companies like Nvidia, AMD, and Qualcomm. TSMC's stock has surged 35% in 2024 and 51% over the past year. Hariharan predicts TSMC's AI revenue contribution to increase from 6% in 2023 to 27% by 2027, with revenues potentially reaching $119 billion by 2026.
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