TSM - At This Valuation Intel's IoT Segment Could Provide The Only Growth They Need

• According to my estimates, the 5-year revenue history of TSMC's technology nodes has been very unequal (10nm has almost completely died off; 0.15/0.18 um actually grew).
• Over that same time period, 3 of the 4 of TSMC's legacy business segments have grown over 8% CAGR.
• IoT, or Internet of Things, is a fragmented market (for now) that's likely to see 8-11% CAGR.
• If technology trends continue, the debilitating effect on IoT companies which are slow to adopt 7nm may not be as awful as predicted.
• Intel's current valuations are pricing in little to even negative growth, which seems highly unlikely considering all of the potential growth in technology outside of the CPU vs. GPU battles.

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