TSM - 1 Incredible Artificial Intelligence (AI) Stock to Buy and Hold for the Next 10 Years
2024-06-26 04:00:00 ET
Artificial intelligence (AI) has become the single hottest investing trend over the past year and a half, and there is a good chance the rapid proliferation of this technology will continue to be a key growth driver for the stock market over the next decade as well.
After all, the global AI market is expected to generate almost $2.6 trillion in annual revenue in 2032 as compared to an estimated $538 billion last year. Buying and holding solid semiconductor stocks for the long run is one of the best ways to capitalize on this huge opportunity. That's because training and deploying AI models isn't possible without AI chips.
This explains why top companies and governments have been lining up to buy chips from the likes of Nvidia , sending shares of the graphics specialist soaring thanks to the stunning growth on its top and bottom lines. However, you should also consider buying another chipmaker to make the most of the AI boom: Taiwan Semiconductor Manufacturing (NYSE: TSM) .
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1 Incredible Artificial Intelligence (AI) Stock to Buy and Hold for the Next 10 Years