Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is rated as one of the 13 Best Global Stocks to Buy Right Now, with a Buy rating from Needham and a price target of $270 per share. The chipmaker reported a 60.7% increase in net profit in the second quarter, exceeding market expectations due to high demand for semiconductors in AI applications.

Analysts at Needham praised Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) for exceeding revenue outlook in Q3, despite challenges like FX headwinds and overseas fab production ramp. However, TSMC’s guidance for Q4 suggests a high single-digit percentage decline, a first since 2021. Management remains cautious about future quarters due to macro uncertainties.

While TSM is promising, some AI stocks may offer greater potential and lower risks. Investors seeking undervalued AI stocks that could benefit from tariffs and onshoring trends can explore further. Needham’s coverage of TSM highlights both strong performance and cautious guidance amidst macro uncertainties.

Read more at Yahoo Finance: Needham Reiterates Buy Rating, $270 Price Target