Banking Giant Goldman Sachs Adds One Asset to ‘Conviction Buy’ List After Raising Price Target: Report
US banking titan Goldman Sachs is reportedly highlighting its bullishness on one under-the-radar synthetic intelligence (AI) inventory that’s up over 68% since March.
Goldman has put Taiwan Semiconductor Manufacturing Firm Restricted (TWSC:2330) on its “Conviction Purchase” record after already being on its purchase record, Insider Monkey reports.
TSMC is Taiwan’s largest firm, and shares of TSMC are sometimes thought of a “pure play” on semiconductors because the agency manufactures chips for a few of the world’s greatest tech corporations, together with Apple, Nvidia and Qualcomm.
Goldman says it’s elevating its value goal on TSMC primarily based on cooling issues about massive AI-chip order cuts and rising demand for the corporate’s CoWoS (Chip on Wafer on Substrate with silicon interposer) tech designed to energy ultra-high-performance computing for AI and different purposes.
The financial institution additionally believes that extra smartphone, server and networking prospects of TSMC will begin adopting CoWoS tech.
Goldman is projecting the corporate’s greenback income to develop by 29% this 12 months and 17% in 2026.
The agency has upped its value goal for TSM to NT$1,210 from NT$1,145.
At time of writing, TSMC is buying and selling at NT$1,080. Reaching Goldman’s value goal suggests a 12% rally from present costs.
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