Here’s Why Bernstein’s Mark Li Is Raising His Price Target on TSMC (TSM) to $600

We just published a list of the 10 Unrivaled Stocks to Buy for the Next Decade and Taiwan Semiconductor Manufacturing (NYSE:TSM) ranked 6th on this list. Wall Street had its worst day since April 2025 last Thursday. The Nasdaq Composite fell 5.5%, the S&P 500 dropped 4.4%, and the Philadelphia Semiconductor Index plunged 12.2%. Two worries drove the selling. Investors doubt that heavy spending on artificial intelligence will pay off, and candidates who ran against data center expansion won races in Texas and Georgia in the midterm elections. Mark Hackett, chief market strategist at Nationwide, told Reuters that chip stocks are a volatile, cyclical group in which "when sentiment shifts, the reactions are intense.