2 stocks which could rocket in January
The post 2 stocks which could rocket in January appeared on BitcoinEthereumNews.com.
In the dynamic world of stock markets, investors seek opportunities to capitalize on market movements. Indeed, one approach that has become popular is the short squeeze strategy, known to yield returns for investors in a short span, with retailer GameStop (NYSE: GME) being a perfect example. As the new year approaches, several stocks are offering an opportunity for short squeezing while presenting what can be considered compelling reasons why they might be prime candidates for a significant uptick in the coming weeks. Therefore, the following are two stocks likely to experience short squeezing in January 2024. Taiwan Semiconductor Manufacturing Company The semiconductor industry, a key driver of technological progress, witnessed a 2023 boom spearheaded by Nvidia (NASDAQ: NVDA), pushing the company’s market cap beyond the $1 trillion mark. In contrast, Taiwan Semiconductor Manufacturing Company (NYSE: TSM) stock did not experience the same level of success. Peaking at nearly $730 billion in early 2022, TSM’s market cap suffered a significant decline as chip demand subsided in 2022, impacting its financials throughout 2023. Despite these challenges, TSM has demonstrated robust earnings growth and an expanding customer base, positioning itself to meet the growing demand for artificial intelligence (AI), machine learning, and Internet of Things technologies. With global semiconductor manufacturing projected to surge, TSM is well-positioned to benefit from this industry uptick. TSM’s resilience and strategic positioning make it a stock to watch in January. The company’s strategic U.S. investments, including a chip plant in Arizona, signal a commitment to becoming a crucial source of vital chips. Competing with industry giants like Samsung and Intel (NASDAQ: INTC), TSMC maintains a neutral stance, appealing to major clients like Apple (NASDAQ: AAPL), who prefer to avoid direct competitors. Given the continued integral role of technology in various sectors, the demand for semiconductors is expected to…
Filed under: News - @ December 25, 2023 10:14 am