TSMC is not going anywhere anytime soon, analyst says

The tech-heavy Nasdaq Composite (^IXIC) continues to slide as semiconductor stocks takes a hit from potential plans from the Biden administration to impose stricter restrictions around AI chip exports to China. Former President Donald Trump also made comments to Bloomberg about potentially making Taiwan pay for US defense.
Wedbush Securities SVP of equity research Matt Bryson joins Market Domination to give insights into the chip stock slide.
"When you look at what the US is doing in terms of restricting capital equipment sales into China, if they are successful, certainly that would weigh on ASML (ASML), that would weigh on some of the other capital equipment names, Tokyo Electron (TOELY), and that's something to think about," Bryson says.
"If China takes a harder stance and starts banning imports, that's something to think about. But, in terms of, again, things shifting immensely for someone like Nvidia (NVDA), where China is a relatively small portion of their revenue because there's already such significant restrictions in place. Thinking about moving away from Taiwan Semi (TSM) anytime in the next 2 to 3 years, I just don't think there's any real implications...There's just there's no alternative to Taiwan Semi."
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