Taiwan Semiconductor Manufacturing’s (NYSE:TSM) Capital Allocation points to Better returns Ahead
TSM has underperformed the market and the semiconductor industry by as much as 20% since February, and the share price is up just 6% YTD. Quite a few semiconductor companies have struggled this year. This is partly due to the chip shortage affecting customers, and partly due to strong price performance in 2020. In TSMC’s case the share price rose 85% in 2020, and is up 273% over the last 5 years (excluding dividends).