$Taiwan Semiconductor Manufacturing(TSM)$
Taking TSMC as an example, its valuation of over 70 in the past was not cheap either, and now it has tripled to over 210. Is a valuation of 210 for TSMC high? With a P/E ratio of 30, SMIC's valuation is much higher than TSMC's. Can their positions be the same? Similar cases also include other leading companies like NVIDIA, Tesla, and Apple. I remember during the previous cryptocurrency mining crash, people said GPUs were doomed, but later on, NVIDIA still made a fortune. NVIDIA's market value has soared from tens of billions to the world's number one. Of course, the valuation is high, but it is likely that the increase in performance will offset the valuation. However, I would choose to keep some ammunition. If there is another big drop, that would be an opportunity to buy.
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