Sanford Bernstein's Mark Li is initiating coverage on TSMC (TSM), the world's largest chip...

|By:, SA News Editor

Sanford Bernstein's Mark Li is initiating coverage on TSMC (TSM), the world's largest chip foundry, with a Buy rating. Li thinks TSMC, whose client list includes Qualcomm (QCOM), Broadcom (BRCM), OmniVision (OVTI), and perhaps soon Apple (AAPL), is much better-positioned than competitors to gain from smartphone and tablet demand.