|Day's range||6.40 - 6.45|
Shares of semiconductors were outpacing the broader markets, which were quite volatile today. Industry leaders Taiwan Semiconductor Manufacturing (NYSE: TSM), Micron Technology (NASDAQ: MU), and Aehr Test Systems (NASDAQ: AEHR) were up 2.1%, 5.5%. There wasn't any company-specific news today, but the broader semiconductor sector was up strongly, even as many other cyclical industries outside of tech were struggling.
Last week I attended the most talked-about industry event in Taipei in recent memory, a panel discussion between Taiwan Semiconductor Manufacturing founder and former chair Morris Chang and Chip War author Chris Miller. The first thing that Chang said to Miller on stage was: “I wish I had written the book.” While Chip War emphasises the Taiwanese government’s role in the early years of TSMC, Chang says it was more like an “investor” than a “partner” — and not a particularly bullish one, either.
Now is a great time to start building a portfolio of growth stocks to simply hold on to for the next decade. Three industry-leading companies that I think will continue their growth trends are Spotify (NYSE: SPOT), Taiwan Semiconductor Manufacturing (NYSE: TSM), and Topgolf Callaway (NYSE: MODG). No company has been more critical in the recovery of the music business than Spotify.