TSM
Taiwan Semiconductor Manufacturing Company Ltd.
stockNYSEADR

I found this EUV fund to be quite interesting. Mostly because of the high concentration in TSM, which I've always been hesitant to buy. It seems like a good play for 10+ years based on the current holdings and the overall trend of tech.

I understand that But why would TSM try to enter the DRAM production if it’s destined to be a falling knife ? I can agree that 700b of cash has no multiple. But the company is worth 800b today so it doesn’t need a multiple

Uh TSM?

Don't jinx my TSM position.

There is at least one exception: TSM.

NVDA's moat is CUDA. AI was developed on CUDA platform for the past decade. If you don't use NVDA GPU, you don't get to use CUDA. CUDA is 2 decades old, has continually been enhanced, and is entrenched into many engineering and scientific applications. It isn't going away any time soon. MU SKHY and Samsung's moat is fab. That's really it. There have been rumors circulating that TSM is considering getting into the memory fab business. That would mean any chip design company, such as an NVDA, could design their own proprietary memory chips and have TSM produce them. Of course this cannot happen overnight. One of these moats is much wider and deeper than the other. That is why you see such a discrepency on NVDA versus memory chip valuation multiples. Just imagine if a day comes where TSM puts out a press release indicating they are entering the market. A pile of $700b in net profit just becomes worth $700b, there is no multiple assigned to it. You get the multiple when your expected net income trends to $200b, to $275b to $375b... etc.

NVDA is a bargain if you are a long term investor. So is TSM, and so is MU. No one knows short term moves for sure. My 2 cents.

I bought VOO, QQQ, BE, NVDA, TSM, SOXX and DRAM at the close Thursday and bought more VOO Friday.

Google, Reddit, TSM, nivida

KLAC LRCX NVDA ASML TSM AMAT GOOG

TSM

TSM, WULF. Not really value investing per se I know.

Go take a look at the balance sheets for NVDA, MU, and TSM.

Perhaps you shouldn't put your entire livelihood into a single stock? AMAT, LRCX, TSM, NVDA, AVGO, CRDO, AAOI, MU, WDC, SIMO, VRT, CRWV, APLD, CORZ, AMKR- are all one stock "semiconductors inc" You tax the *exact same supply line* 14 times at different points in time. You don't diversify tour cash stream- they rise on the exact same event the exact same amount, just taking turns in taking the money And when the demand drop, they are not waiting for their turn to drop. They all drop together - because its the same cash stream that was just eroded. Their correlation downward=1 And the rest- google, amazon, sony. Thlse are the **consumers**. They are the ones who give the cash flow to "Semiconductors inc." to fund the supply line. Its their capex they spend from your money you catch back. And guess what happens when they enter a drawdown and cut capex spending? "semiconductors inc" immediately drop with them Your entire portfolio is only 3 stocks- 95% "semiconductors inc and hyperscalers", and 5% caterpillar and take two. All three heavily cyclical, consumer demand-sensitive, volatile and tend to enter long stretches of trough when the market saturated When you buy a falling knife as you "buy the dip", there's zero cushions. You are committing your entire net worth on that single knife. And if this is institutional rerating, you are looking at months if not years of compounding erased as the "semiconductor inc" stocks establish a lower bottom- and semis can enter prolonged troughs of zero demand, ask anyone who bought intel in 1996 Your neoclouds will be bankrupted if they can't find a usage or absorbed into bigger infrastructure once money rotate out. And everything else would easily drop 60-70% and stay down for years once semiconductor burn rate reach equilibrium with their production. There is very little secular compounding and long term wealth being built here. So yes when the market enter drawdown period like last week, you will be massively down

This is WSB!!! I am saying this as a loser that buys boring tickers like VFIAX, ADBE, GOOG, MELI, TSM, DLO, QCOM We are not shaming them, smart investors are shameful!!! I am shameful.

GLW & TSM.

I'm in the same boat, except I am not trying to beat the averages. I own quite a few individual stocks but I also own SPY, QQQ, VEA, VTWO and things like QYLD for income. The stocks I own include CAT, NVDA, SPG, AAPL and others with huge embedded gains. I sold some CAT earlier this year and will pay for it in April. I don't know any way around this except to use offsetting losses and simply pay the taxes from the gains. I thought about selling covered calls to help offset the gains but that would just kick me up into a higher tax bracket. One thing I would disagree about is beating the indexes. To manage risk you have to diversify even if just through ETFs. According to my calculations, which includes dividends, (total return) I have underperformed the market most years but not by much and my account value does not fluctuate as much. (except for Thursday) I think diversifying between sectors and foreign markets is more important than beating the averages. But it does depend on your age. I'm 73, but if you are in your 40s or 50s you may not be as worried about those fluctuations. One other thing. SPY and QQQ (VOO) are all heavily weighted by the large cap stocks like AMZN, NVDA, TSM, MSFT and the like. So goes those stocks so goes your account value. That is why I am invested in foreign markets and small and mid cap stocks.

Amazon During earnings crash ,TSM, VST during election crash,

When we look at how the market prices AI, it is clearer to look at non-hyperscaler (GOOG, MSFT, AMZN, big names) stocks because these hyperscalers have a more stable alternative source of income. Four-week category performance, from October 9 to November 6, 2026: Hardware: -34.17% NVDA, TSM, AVGO, MU, AMD, ASML, INTC, CSCO, AMAT, LRCX, DELL, ARM, ANET, KLAC, MRVL, SNDK, QCOM, STX, WDC, LITE, HPE, CIEN, COHR, ALAB, CLS, CRDO, SMCI, FN Computing & facilities: -29.91% EQIX, DLR, NBIS, CRWV, IREN, APLD, WULF, CIFR Electricity: -22.71% GEV, ETN, CEG, VRT, BE, VST, CCJ, TLN, OKLO Main street stable: +11.96% KO, MCD, WMT, CL, BRK-B and at equal weighting of each stock within each category, we get |Sector / index|Four-week performance|Adjusted earnings yield|Equivalent P/E| |:-|:-|:-|:-| |Hardware|\-34.17%|4.05%|24.7×| |Computing & facilities|\-29.91%|\-9.18%|Net loss| |Electricity|\-22.71%|2.03%|49.3×| |**Main street stable**|**+11.96%**|**3.83%**|**26.1×**| let's guess the reason behind the differences. First, we have the hardware stocks on similar earnings yield to main street stable. This means the market expects their profits to stay stable. which means this level of chip buying to continue. Then we have the computing & facilities companies who buys hardware and data center assets and leases them out. Note these are not hyperscalers: these are medium-small players with limited cash. The market gives them a negative earnings yield, which is really a sign of confidence in those stocks turning a healthy profit. Now we know historically the market doesn't buy into a stock/industry that will do well more than 5 years into the future, the market buys into a stock that's gonna do well around 1-3 years into the future. So that's the market speaking here. Now electricity: this is interesting because the numbers mean ai is gonna lead a significant expansion in electricity generating capacity. the adjusted earnings yield is almost the half of main street stable index and compared to the other two ai segments it didnt fall as much. Interestingly the us added in years 24-25 14GW wind and 7.8GW natural gas. To meet the 457 TWh/year ai energy gap (I got this number somewhere. you should check) by the end of 2030, natural-gas capacity additions would need to average approximately 15.0 GW per year from 2026 through 2030, assuming wind expansion stays the same. In this scenario, total US gas and wind equipment market would be approximately $10.4 billion–$19.5 billion per year. For reference GE vernova annualised q3 2026 revenue is $50.4b. In general, I think the market is saying that we gonna have this level of hardware spending and data center expansion but for many years at least 3 years (personally I think it is unlikely we will see a massive electricity capacity expansion fully ramp up within 2 years judging by the speed of us regulations. If the democrats bring the green new deal kind of infrastructure enthusiasm back it could help. Government help is good but not completely necessary. Hyperscalers and private debt can fund electricity expansion too but just more expensively at current rates.) Last but not least, KO, MCD, WMT, CL, BRK-B don't have that much uncertainty about their future.

TSM on 256$. Great deal

AVGO, TSM, NVDA

GOOGL, PLTR, TSM, BE, INTC, MU

ASML TSM GOOG

TSM

TSM, WISE, MELI, AXON, NTRA, PL, ETN, NVDA