1 Wall Street Analyst Thinks Taiwan Semiconductor Stock Is Going to $240. Is It a Buy?

Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) are sitting close to their all-time high, and Barclays analyst Simon Coles sees more upside in the next year. Last week, the analyst maintained the firm's overweight (buy) rating on the stock but raised their price target from $215 to $240.Wall Street's price targets are not all that meaningful for long-term investors. But in this case, there is a meaningful catalyst that can send shares higher in the near term: artificial intelligence (AI). Here's why the analyst might be right with his price target.On the third-quarter earnings call, management said that demand for AI server processors, which include graphics processing units (GPUs) and other chips being used for AI training, is booming. It expects the revenue contribution from these chips to more than triple for the full year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool