INTC Vs. TSM: There Is A Clear Winner


  • Understanding the Chip Wars and the geopolitical landscape remains critical for allocating capital to semiconductor stocks.
  • Under a comparative contextual analysis, TSM is superior, but both stocks are in the middle of a cyclical downturn correction.
  • Intel remains miles away from its potential, leading to its undervaluation. Still, from a macro perspective, Intel possesses a vital function in the semiconductor sphere that faces challenges, but its turnaround path gets more apparent.
  • This year’s industry-wide sales decline is expected to be 6.5%, with the chip oversupply expected to normalize in 2024. However, the industry is cyclical and remains on sale, expected to rebound between 2H-2023 and 2024.
Microchip USA China Taiwan on blue world map background.3d illustration

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Investment Thesis

Intel Corporation (NASDAQ:INTC) has lost more than half of its value. In contrast, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has delivered a 71% return over the past three years outperforming the SOXX index by 9.7%. The last

Disclosure: I/we have a beneficial long position in the shares of INTC, TSM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Author of Yiazou Capital Research

Unlock your investment potential through deep business analysis.

I am the founder of Yiazou Capital Research, a stock-market research platform designed to elevate your due diligence process through in-depth analysis of businesses.

I have previously worked for Deloitte and KPMG in external auditing, internal auditing, and consulting.

I am a Chartered Certified Accountant and an ACCA Global member, and I hold BSc and MSc degrees from leading UK business schools.

In addition to my research platform, I am also the founder of a private business.

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