Taiwan Semiconductor and Nvidia are top AI companies with impressive sales growth.
From Nasdaq: 2024-12-28 12:05:00
Taiwan Semiconductor Manufacturing (NYSE: TSM) and Nvidia (NASDAQ: NVDA) are leading artificial intelligence companies with impressive share price gains. Taiwan Semiconductor saw a 36% sales increase to $23.5 billion in Q3, while Nvidia’s sales soared 94% to $35.1 billion. Both companies are benefiting from the AI market’s rapid growth and are well-positioned for success.
Taiwan Semiconductor holds a 90% market share in producing the world’s most advanced processors, thanks to its unique manufacturing techniques. With a forward P/E ratio of 23.0, it is considered a slightly less expensive option compared to Nvidia, which has a forward P/E ratio of 32.7. Both companies are expected to continue thriving in the AI market as investments in AI infrastructure increase.
Investors looking to capitalize on the AI market may find Taiwan Semiconductor a better choice due to its lower share price compared to Nvidia. While both companies have immense potential for growth in the AI sector, Taiwan Semiconductor’s affordability makes it an attractive option for investors seeking exposure to the AI market’s growth potential. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 30,000 for the first time. This milestone comes as investors remain optimistic about the prospects for a COVID-19 vaccine and economic recovery.
2. In other news, the United States reported over 170,000 new COVID-19 cases in a single day, marking a new record high. Health officials are urging the public to continue following safety guidelines to prevent further spread of the virus.
3. Tesla CEO Elon Musk surpassed Bill Gates to become the second-richest person in the world, with a net worth of over $127 billion. This increase in wealth is largely attributed to Tesla’s soaring stock price and Musk’s other ventures in the tech industry.
4. The holiday shopping season kicked off with a bang as online sales on Black Friday reached $9 billion, a 21.6% increase from last year. With more people opting for online shopping due to the pandemic, retailers are optimistic about a strong holiday season.
5. On the international front, tensions continue to rise between Iran and Israel after the assassination of a top Iranian nuclear scientist. Iran has vowed to retaliate, raising concerns about escalating conflict in the region and the impact on global security.
Read more at Nasdaq: Better Artificial Intelligence Stock: Taiwan Semiconductor Manufacturing vs. Nvidia