Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) rose more than 4% Friday after Morgan Stanley upgraded the stock to its Top Pick, citing strong AI-related capital spending plans from Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), according to a Friday note.
Morgan Stanley analysts, led by Charlie Chan, said earlier concerns about AI demand durability, a potential joint venture with Intel (NASDAQ:INTC), and tariff risks had kept TSM from regaining the top spot. With those overhangs…
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