US Banking Titan Goldman Sachs reportedly emphasizes his bullishness on one under-the-radar Artificial Intelligence (AI) shares that has risen more than 68% since March.
Goldman has put Taiwan Semiconductor Manufacturing Company Limited (TWSC: 2330) on the “Buy conviction” list after he was already on the purchase list, Insider Monkey report.
TSMC is Taiwan’s largest company and shares of TSMC are often considered a “pure game” on semiconductors, because the company produces chips for some of the world’s largest technology companies, including Apple, Nvidia and Qualcomm.
Goldman says that it increases its price objective on TSMC on the basis of cooling items on large AI-chip ordering and increasing demand for COWOS (Chip on Wafer on Substration with silicon interposer), is designed to provide UltraHigh-Performance Computing for AI and other Applications with power.
The bank also believes that more smartphone, server and network customers from TSMC start using Cowos Tech.
Goldman projects the company’s dollar income by 29% this year and 17% in 2026.
The company has increased its price target for TSM to NT $ 1,210 of NT $ 1,145.
At the time of writing, TSMC acts on NT $ 1,080. Reaching Goldman’s price target suggests a 12% rally of current prices.
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Featured image: Shutterstock/Ormalternative/Andy Chipus