Are You Looking for a Top Momentum Pick? Why TSMC (TSM) is a Great Choice

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, leveraging established price movements for profitable trades [1] Company Overview: TSMC (TSM) - TSMC currently holds a Momentum Style Score of A, indicating strong momentum characteristics [1] - TSMC has a Zacks Rank of 2 (Buy), which is associated with a historical outperformance in the market [2] Price Performance - TSM shares have increased by 5.86% over the past week, matching the performance of the Zacks Semiconductor - Circuit Foundry industry [3] - Over the last month, TSMC's stock price rose by 6.7%, consistent with the industry's performance [3] - In the past quarter, TSMC shares have surged by 39.49%, and over the last year, they have risen by 74.77%, significantly outperforming the S&P 500, which increased by 7.78% and 27.35% respectively [3] Trading Volume - TSMC's average 20-day trading volume is 14,940,246 shares, which serves as a bullish indicator when combined with rising stock prices [3] Earnings Outlook - In the last two months, TSMC has seen 2 upward earnings estimate revisions for the full year, with no downward revisions, raising the consensus estimate from $6.10 to$6.16 [4] - For the next fiscal year, 3 estimates have been revised upwards, with no downward revisions during the same period [4] Conclusion - TSMC is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a strong candidate for near-term investment opportunities [5]