if you ck the semi vs s&p, it is indeed still relatively cheap, as an illustration, I got the following chart
One can click on the tickers for more about each company. As always, I dont suggest anyone to buy the etf but use this as a sector illustration
There are still room to grow on iot, servers…etc. I think there is a sight of relief from many investors that TSMC didnt buy ARM, which was the second tier bidder on ARM
I think the biggest risk for TSM is the impact of NT$ as to US investors. I remember TW used to single handly bought tons of gold to stablized its trade imbalance and the stablization of NT$ in history, prob around the $400/oz area. Thats the risk for any ADR investors if the XE rate changes suddenly.