You may not be familiar with the organization, but there's a good chance you're using a product containing semiconductor chips made by Taiwan Semiconductor Manufacturing (NYSE: TSM). TSMC (as it's better known) manufactures chips for chip design companies that aren't willing or able to make their own. If you've been paying close attention of late, you've likely noticed the global semiconductor shortage is motivating chip brands to take more of their manufacturing destinies into their own hands.
Recession fears caused this growth stock to plunge more than 50%, creating a buying opportunity for savvy investors.
The stock market sell-off has primarily stemmed from rises in inflation, leading to decreased consumer spending. Microsoft (NASDAQ: MSFT), Advanced Micro Devices (NASDAQ: AMD), and Apple (NASDAQ: AAPL) have each watched their stocks experience double-digit declines since January. As the home of hard-hitting brands such as Windows, Office, Azure, and Xbox, Microsoft has become a dominating presence in multiple markets.