This semiconductor stock is up more than 200% this year. TD Cowen says it has more room to run - CNBC

A semiconductor stock has risen more than 200% this year, drawing market attention. CNBC reported that investment firm TD Cowen believes the stock still has room to grow. This surge reflects strong de... Read original →

TSMC’s >200% YTD surge stems not from speculation but from its structural pricing power derived from a widening 3nm/EUV technology gap. Its advanced nodes have become irreplaceable for NVIDIA and other AI chip leaders, tightening the entire upstream equipment supply chain—especially ASML—and enabling TSMC to command premium wafer pricing. While geopolitical risks around Taiwan, China persist, U.S. CHIPS Act subsidies and accelerated fab builds in Japan and Europe are partially de-risking geographic concentration, turning higher compliance costs into long-term customer lock-in. Samsung and Intel will respond with aggressive 2nm roadmaps and packaging integration, yet yield ramp timelines still lag. Over the next 18 months, AI cluster expansion and edge-AI volume production will fuel a self-reinforcing design-manufacturing-application cycle, justifying a structurally higher valuation—not a speculative bubble.