This Stock Is Leading the AI Chip Rally

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The artificial intelligence (AI)-related rally in semiconductor stocks is back with a vengeance in 2024. It all started on Jan. 18 after Taiwan Semiconductor Manufacturing (TSM) – the World’s largest contract chipmaker – forecast a return to strong growth this year. It expects revenues to grow by up to 26% as the global chip market comes out of a deep trough. The company’s better-than-projected numbers underscored expectations for a bounce-back in smartphone demand, as well as for chips and computing. But more importantly, the market was excited by the focus of TSM executives on the advent of…

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