Goldman Sachs spent more than a year telling clients that Taiwan Semiconductor Manufacturing (TSM) was one of the best stocks to own in Asia.
However, on July 1, 2026, the bank changed its mind
Goldman dropped TSM from its Asia-Pacific Conviction List. This list is the bank’s short roster of ideas its analysts strongly back. In addition to TSM, Goldman cut Chinese tech giant Alibaba (BABA) on the same day.
For TSM, which sits at the center of the entire AI buildout, the decision landed with a jolt. What Goldman’s move on TSMC stock really signals Goldman did not tell investors to sell TSM, and it even kept its buy rating in place, TipRanks reported. However, the Conviction List is tighter than a standard buy rating.