Does Taiwan Semiconductor Manufacturing Co (TSM) Hold an Underappreciated Pricing Power?

2 hours ago 1

Soumya Eswaran

Thu, April 23, 2026 astatine 8:44 AM CDT 3 min read

Montaka Global Investments, an concern absorption company, released its first-quarter 2026 capitalist letter. A transcript of the missive is disposable to download here. The March 4th was dominated by Iran's geopolitical conflict, which sharply revised stocks' valuation multiples. In Q1, the portfolio holdings declined owed to valuation changes, but the steadfast trusts successful the stocks’ fundamentals. The missive emphasized 3 cardinal themes for aboriginal investors: AI, Geopolitics, and Market valuations. While the marketplace focuses connected war, oil, inflation, and involvement rates, the steadfast seeks opportunities successful prime businesses with beardown advantages and large, increasing markets. In this economical backdrop, the steadfast reaffirms its attack of diligent investing successful advantaged businesses amid ample structural shifts astatine charismatic prices. In addition, delight cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, Montaka Global Investments highlighted Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) arsenic a recently added position. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s starring shaper of integrated circuits and different semiconductor devices. On April 22, 2026, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) closed astatine $387.44 per share. One-month instrumentality of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) was 18.81%, and its shares gained 135.98% implicit the past 52 weeks. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a marketplace capitalization of $2.01 trillion.

Montaka Global Investments stated the pursuing regarding Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) successful its Q1 2026 capitalist letter:

"We besides acquired Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) – much commonly known arsenic TSMC – the world’s effectual monopolist successful AI semiconductor fabrication.

Given Montaka’s heavy enactment successful AI implicit galore years, we’ve been pursuing this institution for immoderate time. We had antecedently opted against investing successful TSMC due to the fact that of implicit geopolitical process hazard concerns, and we proceed to handicap this concern for its concentrated vulnerability to Taiwan.

That said, the operation of accelerating request for AI compute, combined with constricted opportunities to grow US electrical powerfulness procreation capacity, means enhanced powerfulness ratio volition apt beryllium a superior root of compute capableness enlargement for the world’s unreality computing hyperscalers. And this gives TSMC utmost pricing powerfulness that we judge continues to beryllium underestimated."

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