台积电TSM有意思，它每月定期发布上个月的营销业绩。这几天公布元月同比上涨36.8%。它不飞涨，稳稳的每年35%左右，

所以等到正式公布季度报告的时候，市场实际上没有太多的惊奇，因为业绩“总是”30+多左右。所以业绩公布后很少暴涨，因为此前已经逐步消化，慢慢上涨够了。

这个方法其实很好，除非大的政治经济消息带动了大市浮动，它本身很少有因为经营消息带来的巨大波动。只不过，这样的话，股票好像比较boring。但是如果有个股票每年稳步成长35%左右，还需要惊喜或者暴涨吗？

Is It Too Late To Consider Taiwan Semiconductor (NYSE:TSM) After Strong AI-Driven Rally?

If you have been wondering whether Taiwan Semiconductor Manufacturing is still worth buying at current levels, this article is going to walk through what the current share price might be implying about its value. 

The stock recently closed at US$341.36, with returns of 2.6% over the last 7 days, 6.8% over the last 30 days, 6.8% year to date, 72.6% over 1 year, 285.6% over 3 years and 175.0% over 5 years, which has put valuation questions firmly on the table. 

Recent news coverage has continued to highlight Taiwan Semiconductor Manufacturing as a central player in global chip supply, with ongoing attention on its role in advanced computing and AI related demand. This context has kept investors focused on how its current share price lines up with expectations around long term contract visibility, capital spending and industry positioning. 

On Simply Wall St's valuation checks, Taiwan Semiconductor Manufacturing scores 3 out of 6, which means it screens as undervalued on half of the metrics used. Next we will look at how approaches like discounted cash flow, earnings multiples and peer comparisons frame that score, and