4 Top Tech Stocks For December

On a year-to-date basis, the stock rose 31.7% to end Wednesday’s trading session at $1,764.13. Over the past six months, GOOGL has climbed 24.8%. The stock is currently trading 3% below its 52-week high at $1,816.89.

It’s no surprise that GOOGL is rated a “Buy” in our POWR Ratings system. It also has an “A” for Trade Grade, Peer Grade, Buy & Hold Grade, and Industry Rank. Out of 59 stocks in the Internet industry, it is ranked #2.

Taiwan Semiconductor Manufacturing Company Ltd. (TSM - Get Rating)

TSM is a leading manufacturer and seller of semiconductors and integrated circuits across North America, Europe, Japan, China, and South Korea. Communications, industrial, consumer, computer, are the standard segments the company operates in. TSM also offers customer service, account management, and engineering services.

TSM’s board approved an investment to set up a wholly-owned subsidiary in Arizona with an overall capital of $3.5 billion. The objective behind setting up this facility is to build a $12 billion factory in the region. The production is targeted to begin in 2024. The Arizona facility would be the company’s second manufacturing site in the United States.

During the third quarter that ended September 2020, TSM’s revenue jumped 29.2% year-over-year to $12.1 billion, driven by demand for 5G smartphones, HPC, and IoT-related applications. The shipments of 5-nanometer garnered 8% of total wafer revenue, while 7- nanometer and 16-nanometer accounted for 35% and 18% of the revenue respectively, for the quarter. TSM’s earnings per ADR unit for the quarter was $0.90 per share.

Analysts expect revenue for the quarter ending December 2020 to be $12.3 billion, indicating an 18.6% gain year-over-year. Meanwhile, the EPS is likely to jump 27.4% to $0.93.

On a year-to-date basis, TSM has gained 67.8% to close Wednesday’s trading session at $97.94. During the past six months, the stock surged 95.8%.

The stock is rated a “Strong Buy” in our POWR Ratings system. It holds an “A” grade for Trade Grade and Buy & Hold Grade, and a “B” for Peer Grade and Industry Rank. TSM is also the #1 ranked stock in the Semiconductor & Wireless Chip industry.

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