AI Drives Semiconductor Market Growth

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AI semiconductors

The Motley Fool

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1 Top Artificial Intelligence (AI) Semiconductor Stock to Buy Hand Over Fist Before Oct. 17

Summary

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80% Informative

Taiwan Semiconductor Manufacturing ( TSMC ) is one of the most important pick-and-shovel plays in the massive AI chip boom.

It manufactures and fabricates chips for a range of fabless chipmakers such as Nvidia , AMD , Qualcomm, Broadcom , and Marvell Technology .

The company is expanding its capacity to produce AI chips a year ahead of the original schedule, according to Morgan Stanley .

Taiwan Semiconductor Manufacturing stock has jumped 77% this year already.

It looks all set to end the year on a strong note.

Given that this AI stock is trading at an attractive 22 times forward earnings even after its outstanding run this year , buying it looks like a no-brainer right now considering that it seems built for more upside.

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