The stock market looks set to close out 2023 with a bang. After slumping through most of the second half of the year, the S&P 500 has gained 8.6% month to date through Nov. 28, and investors are increasing their wagers that interest rates will come down in 2024, which should help lift stocks in the new year. If you're looking to capitalize on the renewed stock market rally, you're in the right place.
At the core of high-tech devices are semiconductor chips. Regardless of whether you are talking about graphics processing units (GPUs) used for artificial intelligence (AI), smartphones, self-driving cars, or other technology, chances are there is a chip made by Taiwan Semiconductor Manufacturing (NYSE: TSM). Taiwan Semiconductor is the world's largest contract chip manufacturer and has been a phenomenal investment over the past decade.
The latest trading day saw TSMC (TSM) settling at $97.31, representing a -1.59% change from its previous close.