Investment Recommendation on Taiwan Semiconductor

In 2021, I conducted a comprehensive two-year investment analysis of Taiwan Semiconductor Manufacturing Company (TSMC), culminating in a well-supported buy recommendation. Leveraging a blend of macroeconomic insights, industry analysis, and fundamental research, I assessed TSMC's financial performance, competitive positioning, and growth prospects within the rapidly expanding semiconductor industry. My analysis included evaluating the company's revenue streams, margins, and R&D investments, along with key market drivers such as global chip demand and advancements in AI and 5G technologies.

I employed valuation techniques, including discounted cash Flow (DCF) modeling and relative valuation metrics such as price-to-earnings (P/E) and EV/EBITDA ratios, to substantiate the recommendation. Additionally, I identified TSMC's leadership in advanced node technology and strong customer relationships as critical factors supporting its long-term growth. The recommendation highlighted the company's resilience in navigating supply chain challenges and its positioning to capitalize on global digital transformation trends.

This project enhanced my ability to conduct detailed equity research, deliver actionable insights, and make data-driven investment decisions. The buy recommendation proved timely and aligned with TSMC's subsequent market performance.