Stock Idea TSMC: One chipmaker that has serious potential t | FSMOne SG - Research Highlights

Stock Idea

TSMC: One chipmaker that has serious potential to outperform its peers

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• TSMC capped off 2021 with a record USD 56 billion in revenue – 25% higher than the year before as all six platforms experienced positive growth.

• The company has budgeted up to USD 44 billion in capex this year, most of which will be used to develop advanced technologies, where demand remains robust.

• Given its focus on advanced technologies, TSMC is in a much better position to weather any future slowdowns compared to its smaller peers.

• Based on a fair PE multiple of 24X, we arrive at a target price of USD 148 for TSMC. This implies an upside potential of close to 25% based on its last traded price of USD 119.84 (as of 3 Feb 2022).

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: Taiwan Semiconductor Manufacturing Company (NYSE:TSM)