Banking Giant Goldman Sachs Adds One Asset to ‘Conviction Buy’ List After Raising Price Target: Report

US banking titan Goldman Sachs is reportedly highlighting its bullishness on one under-the-radar artificial intelligence (AI) stock that’s up over 68% since March. Goldman has put Taiwan Semiconductor Manufacturing Company Limited (TWSC:2330) on its “Conviction Buy” list after already being on its buy list, Insider Monkey reports . TSMC is Taiwan’s largest company, and shares of TSMC are often considered a “pure play” on semiconductors as the firm manufactures chips for some of the world’s biggest tech firms, including Apple, Nvidia and Qualcomm. Goldman says it is raising its price target on TSMC based on cooling concerns about large AI-chip order cuts and increasing demand for the company’s CoWoS (Chip on Wafer on Substrate with silicon interposer) tech designed to power ultra-high-performance computing for AI and other applications. The bank also believes that more smartphone, server and networking customers of TSMC will start adopting CoWoS tech. Goldman is projecting the company’s dollar revenue to grow by 29% this year and 17% in 2026. The firm has upped its price target for TSM to NT$1,210 from NT$1,145. At time of writing, TSMC is trading at NT$1,080. Reaching Goldman’s price target suggests a 12% rally from current prices. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Ormalternative/Andy Chipus The post Banking Giant Goldman Sachs Adds One Asset to ‘Conviction Buy’ List After Raising Price Target: Report appeared first on The Daily Hodl .