TSMC: Soaring To New All-Time High, No Longer An Ultra-Bargain (Downgrade)

Core Insights - Taiwan Semiconductor Manufacturing Company Limited (TSMC) reported strong quarterly earnings, driven by significant growth from the ongoing AI boom [1]. Company Performance - TSMC showcased excellent growth in its quarterly earnings results, indicating robust cash generation capabilities [1]. Market Context - The performance of TSMC is reflective of the broader trend in the semiconductor industry, particularly influenced by the increasing demand for AI technologies [1].