American billionaire investor Buffett did not praise the American semiconductor manufacturer at the Berkshire Hathaway (Berkshire Hathaway) annual meeting on Saturday but praised him once. The chip company Taiwan Semiconductor Manufacturing Co Ltd. (TSMC), which has invested in it, praised it greatly.
Buffett said, “TSMC is one of the best-managed and most important companies in the world. I don’t like its location and have re-evaluated it,… But in my opinion, no company in the chip industry can compare with it.”
Berkshire Hathaway disclosed in February that the company sold 86% of TSMC’s shares, which were purchased only a few months ago for US$4.1 billion (IT Home Note: currently about 28.331 billion yuan). Berkshire Hathaway currently owns 0.2% of TSMC. Buffett explained in April that he was selling the stake because of heightened geopolitical tensions.
“They’re great people and great competitors, but I’d much rather find them in the U.S.,” Buffett added Saturday.
TSMC shares have risen 120 percent over the past five years, outperforming the S&P 500’s 55 percent gain over the same period, as rivals such as Intel are trying to regain market share by building new factories in the U.S. and ramping up innovation.
