Texas Instruments (NASDAQ: TXN) and Taiwan Semiconductor Manufacturing (NYSE: TSM) are two of the most important companies in the world, and their importance is only rising. They are also incredibly important stocks to countless investors. Chips are proliferating throughout the economy and receiving massive amounts of capital investment -- everything from automotive and industrial automation (Texas Instruments' specialty) to data centers and artificial intelligence, or AI (a top end-market for Taiwan Semiconductor Manufacturing).
Taiwan Semiconductor Manufacturing (TSMC) is by far the larger of the two businesses and is an inseparable partner for all of the top fabless chip designers (those that don't manufacture themselves, like Nvidia , Qualcomm , and Apple , to name just a few). But could a case be made that Texas Instruments (TI), a company that focuses on "old and boring" chip technology, is actually the better investment? Below, two Fool.com contributors take opposing sides on this debate.
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Is Texas Instruments Stock a Better Buy Than Taiwan Semiconductor Manufacturing?