What Is 1 of the Best Tech Stocks to Buy Now?

Group 1 - The growing adoption of artificial intelligence (AI) is driving the demand for more chips, benefiting Taiwan Semiconductor Manufacturing (TSMC) [1] - TSMC has the competitive positioning, profitability, and massive scale to help investors realize excellent returns over the long term [2] - TSMC handles the manufacturing of thousands of different products every year, with nearly three-quarters of its revenue coming from advanced processing technologies [4] Group 2 - TSMC makes chips for all leading chip companies, which translates to stellar profit margins [5] - Over the last year, TSMC generated $50 billion in net profit on $115 billion of revenue, with analysts expecting earnings per share to grow 25% annually in the coming years [6] - Shares of Taiwan Semiconductor currently trade at a reasonable 23 times next year's consensus earnings estimate, indicating potential for investors to double their money in three years [6] Group 3 - Growing AI chip deployments in data centers are a long-term catalyst for TSMC [8] - TSMC holds a dominant position in the chip industry, which supports outstanding returns for investors [8]