With the world going more and more digital, the semiconductor industry has been a major beneficiary, and it’s set to grow even more. However, one major bugbear about the semiconductor sector is that it can be volatile in the short-term, as seen from the chart below:

Source: Semiconductor Industry Association Such cyclicality, though, is normal for the semiconductor industry. Investors who are investing in semiconductor stocks should look at long-term growth trends instead. They can learn more about such trends by looking at the large semiconductor chip makers. Enter Taiwan Semiconductor Manufacturing Company Limited (TPE: 2330)(NYSE: TSM). TSMC for short, the company is the world’s largest dedicated semiconductor foundry with a market share of over 50%. I recently looked through TSMC’s 2020 fourth-quarter earnings call transcript to understand more about the semiconductor industry and what the company has to say about long-term growth trends in the