---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/32744237.md"
description: "$SMIC(00981.HK)$Taiwan Semiconductor(TSM.US)This is why I don't like the second-place players. As latecomers trying to catch up, their revenue growth can't match the leader, and their gross margin is several orders of magnitude behind.The same goes for Alibaba's cloud business—growth is too slow, gross margin is still declining, and the gap with Azure/AWS/GCP is widening.Actually, AMD is the same, but at least it's a U.S. company with a liquidity premium. As a China concept stock, don't even think about replicating the "hero vs. dragon" narrative."
datetime: "2025-08-08T03:35:24.000Z"
locales:
  - [en](https://longbridge.com/en/topics/32744237.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/32744237.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/32744237.md)
author: "[未明勇闯纳斯达克](https://longbridge.com/en/profiles/15030207.md)"
---

# $SMIC(00981.HK)$Taiwan Semiconductor(TSM.US)This i…


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