Taiwan Semiconductor Manufacturing Company Limited (TSM) is one of the best 52-week high stocks to buy now, posting strong second-quarter results with a 38.65% year-over-year increase in net revenue to NT$933.80 billion. TSMC expects third-quarter revenue growth between $31.8 billion and $33 billion, with an operating margin of 45.5% to 47.5%.

The company is benefiting from AI demand, raising its full-year revenue forecast to 30% growth. Taiwan Semiconductor continues to invest in advanced manufacturing in the US, with $165 billion earmarked for this purpose. TSM is the world’s largest independent semiconductor foundry, manufacturing chips for other companies.

While TSM is a solid investment, some AI stocks may offer greater upside potential. The company remains unaffected by tariffs and is capitalizing on the onshoring trend. For those seeking an undervalued AI stock, a free report on the best short-term AI stock is available.

Read more at Yahoo Finance: Taiwan Semiconductor Manufacturing Co. (TSM) Hikes Q3 Revenue Guidance amid AI Boom