Morgan Stanley analyst Charlie Chan upgraded Taiwan Semiconductor to Overweight from Equal Weight. I-Hwa Cheng/Bloomberg Taiwan Semiconductor Manufacturing shares are trading higher Monday, getting a boost from Morgan Stanley analyst Charlie Chan, who lifted his rating on the contract-chip-manufacturing giant to Overweight from Equal Weight, seeing a “a very positive longer-term outlook.” Chan cautions that in 2022, “a semi downcycle is emerging,” pointing to moderating consumer demand for personal computers, smartphones and televisions. He also sees “growing risk” of a slowdown in chips used in crypto mining given recent price volatility in cryptocurrency prices. But Chan sees those issues as...