Taiwan Semiconductor Manufacturing Company (TSM) is currently the world’s largest specialized foundry in the semiconductor industry. As a foundry, TSM manufactures semiconductors, based on proprietary integrated circuit designs requested by its customers. The company produced 24% of the world's semiconductor (excluding memory) output value in 2020 vs. 21% in 2019, further bolstering its industry-leading position. TSM shares have lagged over the past few months, despite the company's continuous advancement. The company should keep growing as the global demand for semiconductors rises, so investors are likely to find attractive opportunities in TSM's dips. For this reason, I am bullish on the stock.
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