Tower Semiconductor, As Chip Manufacturing Gets Rerated

Tower Semiconductor Limited (NASDAQ: TSEM), an independent foundry services provider, is ready for a rerating with favorable industry tailwinds and significantly improved fundamentals. Now that the market has woken up to the potential offered by third-party semiconductor manufacturing service providers, as evident from the performance of Taiwan Semiconductor (NYSE: TSM) and United Microelectronics (NYSE: UMC), Tower should be next.     Even though its hard to quantify the full impact, most industry observers and companies in the space agree that trade restrictions on Chinese state-owned or backed entities have led to…

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