Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the favorite chip stocks on Wall Street. JPMorgan recently raised the price target on the stock to NT$1,200 from NT$1,080 and kept an Overweight rating, highlighting that TSM was now firmly on course to improve margins in the next few years. In an investor note, the advisory detailed that together with continued strong demand for artificial intelligence accelerators and leading market position, strong earnings growth was expected from TSM in the next few years.