Investing.com-- Taiwan Semiconductor Manufacturing Co, or TSMC, saw a stellar spike in its valuation over the past year, as the world’s largest contract chipmaker rode a wave of increased demand from the artificial intelligence industry.). TSMC’s ADRs rose to $172.60 on Tuesday, while the firm’s Taiwan shares traded around T$953 on Wednesday.
GS expects a potential widening in the ADR premium on the back of positive growth from AI, and said that selling the premium ADRs to buy discounted ordinary shares may not yield immediate profits. TSMC is also vulnerable to profit-taking after doubling in value over the past year. GS said that continued outperformance in TSMC could pressure some funds to reduce their positions in the stock due to concerns over too much concentration towards one stock. While this could lead fund managers to seek alternatives to TSMC among other tech stocks, the brokerage warned that “investing in the broader tech sector may be lessHype over AI, following the launch of generative AI tools such as OpenAI’s ChatGPT, was a key driver of tech stocks over the past year.
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