Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) is a top stock pick, with shares up 48% this year and analysts expecting a further 22% increase. The company is crucial in the AI value chain, with Nvidia CEO requesting increased chip supplies. Needham analyst sees potential for revenue growth and raised price target to $360.

TSM is the world’s largest semiconductor foundry, serving global industries like technology, communications, and automotive. Despite its strong position, other AI stocks may offer higher upside potential and less downside risk. Investors seeking undervalued AI stocks can explore opportunities in a free report on the best short-term AI stock.

For more stock recommendations, check out the 13 Best Stocks to Buy According to Citadel LLC and Goldman Sachs Defense Stocks: Top 10 Stocks to Buy. This article is originally published on Insider Monkey.

Read more at Yahoo Finance: Is Taiwan Semiconductor Manufacturing (TSM) the Most Fantastic Stock to Buy Now?