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2022 is off to a rough start, but these businesses are doing far better than their stock prices are indicating.
Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC, released fourth-quarter results on Jan. 13 and shares of the chip giant surged following the report as it became evident that the demand for chips is going to stay strong in 2022 and beyond. One of the highlights of TSMC's report was the big bump in the company's capital spending budget for 2022. The company has outlined a capital expenditure budget of $40 billion to $44 billion for this year, which points toward a roughly 40% increase over 2021 capex of $30 billion.