Morgan Stanley Names $TSM Top Pick After Record Selloff

👉 Key Highlights:
📍 TSMC touted as a "top pick" by Morgan Stanley after record share plunge.
📍 Shares fell amid global stock rout, rebounding 7.1% in Taiwan on Tuesday.
📍 Morgan Stanley cites TSMC's quality and defensive nature during semi downcycle.
📍 Analysts find TSMC’s valuation attractive at 16 times projected 2025 earnings.
📍 Price target set at 1,220 Taiwan dollars, 50% above Monday's close of 815.
📍 Taiex index rebounded 4.1% after its largest drop in 57 years.

👉 Context/Background:
Taiwan Semiconductor Manufacturing Co. (TSMC) faced a significant share decline amid a global stock rout but has been named a "top pick" by Morgan Stanley. The analysts appreciate TSMC's defensive qualities and believe its current valuation is attractive, providing a potential opportunity for investors.