TSMC Stock Hits New High As Another Global Leader Multiplies By 10

Investors looking for stocks of companies based outside the U.S. can run the IBD Global Leaders screen, which is Tuesday's Screen Of The Day. Topping the list of 10 stocks is Taiwan Semiconductor Manufacturing (TSM) — also known as TSMC stock.

Two other noteworthy names selected include Vista Energy (VIST) and Qifu Technology (QFIN), with one of them multiplying its share price 10 times in three years.

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TSMC Stock Hits Record High

TSMC stock jumped 5.5% Monday in heavy volume and reached an all-time high. The Nvidia (NVDA) chipmaker may have risen in sympathy with competitor Taiwan-based Foxconn. Foxconn, an Nvidia products assembler, reported record fourth- quarter revenue from demand for servers using artificial intelligence.

In separate news, Nvidia stock jumped nearly 5% ahead of Monday night's speech from Nvidia Chief Executive Jensen Huang at the CES 2025 trade show. Other semiconductor stocks also acted strongly Monday.

Taiwan Semi stock is above the buy zone up to 215.91 of a late-stage cup-with-handle base with a buy point of 205.63, according to MarketSurge pattern recognition. Shares climbed for a third straight day of gains. The Taiwan-based stock's relative strength line is ticking up — a positive sign.

The chipmaker's third-quarter sales growth accelerated to 41% from 11% and 34% over the last two quarters, and greatly improved from four declining quarters in 2023. Forecasts call for revenue to rise an average of roughly 32% over the next three quarters. Analysts also project 32% profit growth for 2024 and 31% in 2025.

Taiwan Semi is expected to report its fourth-quarter earnings in mid-January. The IBD 50 stock's Composite Rating is a best-possible 99.

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Vista Energy Hits Elite Ten-Bagger Status

Mexico-based Vista Energy rose 0.6% Monday and is also near its record high, reached on Dec. 12. Vista is in a buy range up to 55.09 from an irregular base with a 52.47 buy point. It also formed a bullish three-weeks-tight pattern with a 59.37 entry.

The energy stock is finding support at its 10-week moving average. Vista stock has increased tenfold since it broke out of a deep, undefined base with a 4.99 buy point in October 2021.

Forecasts called for 35% profit growth for 2024 and 14% in 2025. That follows 45%, 407% and 146% increases in the prior three years, after three years of losses. The robust earnings growth is reflected in its three-year 294% Earnings Per Share Growth Rate, according to IBD Stock Checkup.

Mutual funds have added shares for five straight quarters, according to IBD Leaderboard. The stock ranks No. 1 out of 15 stocks in the IBD Oil & Gas International Exploration & Production industry group.

Vista acquires and develops oil and gas fields in Latin America, primarily in Mexico, Argentina, Brazil and Colombia and supplies natural gas and electricity to homes and businesses in the U.S.

Qfiu Stock Retreats From Highs

China-based Qifu Technology pulled back 5.5% Monday, after hovering near highs not seen since July 2021. The fintech stock fell below its 21-day exponential moving average Monday, but is finding support at its 10-week line. Shares bounced sharply off the 10-week line in late November after several tests of the closely watched level.

Shares are extended from its prior undefined base with a 21.57 buy point following its August breakout.

Its per-share earnings growth for was expected to climb a hearty 47% in 2024 and 11% in 2025. Qifu Technology offers credit services to consumers and financial institutions.

Lastly, Israel-based Fiverr International (FVRR) popped 5.5% Monday and is extended from the profit zone of a double-bottom base with a 26.71 buy point. The company operates an online platform that connects marketing and graphics design freelancers with customers.

Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.

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