AI Stocks TSMC and Supermicro Set for Major Growth in 2024

Increasing demand for AI chips and server solutions fuels optimism for these undervalued stocks.

Taiwan Semiconductor Manufacturing (TSMC) and Super Micro Computer (SMCI) are both poised for significant growth in 2024 due to increasing demand for their AI chips and server solutions.
TSMC, Nvidia's foundry partner, is expected to see a turnaround in its fortunes in 2024 due to growing demand for its advanced 5-nanometer (nm) and 3nm chips.
Supermicro, known for providing modular server solutions used for deploying AI chips, has already seen nearly 50% gains in 2024 and is expected to continue its growth trajectory.
Both TSMC and Supermicro are trading at attractive valuations despite their recent stock price surges, making them potential investment opportunities.
AI is set to be a long-term growth driver for both companies, with the AI server market expected to grow fivefold between 2023 and 2027.