Opinion: TSMC Is a Better Buy Than Any of the "Magnificent Seven" Stocks Right Now
Key PointsTSMC is outperforming every member of the "Magnificent Seven" this year.
Finding the next best stock to invest in is a challenging task. In the early months of the year, I provided a series of forecasts predicting which of the Magnificent Seven stocks would be the most lucrative to purchase this year. My top selection, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), has only gained 7% so far in 2023, while my least favored choice, Apple (NASDAQ: AAPL), has surged nearly 20%.
Nvidia (NASDAQ: NVDA) continues to lead the pack, and there's much to admire about Jensen Huang's organization. Their latest earnings report revealed revenue of $96.2 billion, a staggering 106% increase compared to the previous year. Furthermore, Nvidia's upcoming Vera Rubin processors are anticipated to begin generating significant profits soon, as the company describes them as the fastest-rising product in its history.
Yet, Nvidia is not alone in this competition. Alphabet offers chips called Tensor Processing Units, its proprietary alternative to Nvidia's custom chips designed for running on Google Cloud, and now offers TPU capacity. Additionally, Amazon's (NASDAQ: AMZN) custom silicon division is expanding rapidly, having recently surpassed a $25 billion annual run rate – its Trainium and Inferentia chips are specifically engineered to operate on Amazon Web Services' cloud.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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