All signs indicate that the demand for semiconductors is likely to remain powerful for the foreseeable future. Meanwhile, Taiwan Semiconductor (NYSE: TSM ), one of the largest names in the sector, recently reported very strong fourth-quarter results, and the valuation of TSM stock remains quite reasonable. Also important, Taiwan Semiconductor is smartly responding to the incredible demand for chips by investing a tremendous amount of money in raising its chip production capacity. Finally, the demand for Taiwan Semiconductor’s advanced chips is likely to be very strong over the long term. With that in mind, here’s a closer look at why...