Analysts see more upside in TSMC as AI chip demand keeps growing, good news for anyone holding the stock or its suppliers — but Taiwan's market is shaky right now on oil and rate worries.

• TSMC just posted its best-ever monthly sales, and a US analysis pins a $600-plus share price by late 2027.
• The case is simple: TSMC makes chips for more than 70% of the world's contract chip market, so Nvidia and AMD both depend on it and have nowhere better to go.
• Data center spending is set to top $1 trillion next year, which keeps chip orders flowing; Nvidia and Broadcom get the same bullish treatment.
• Taiwan's market still fell hard this week as the Iran conflict pushed oil prices up and higher-than-hoped US inflation raised the odds of a Fed rate hike.
• Apple's new foldable iPhone sold out in minutes, prompting Goldman Sachs to tag TSMC, Foxconn and nine other Taiwanese suppliers as buys.

Outlook: The Fed and Taiwan's central bank both decide on rates this week, and oil prices — not inflation data — look like the bigger risk to stocks near term.