Warren Buffett’s Berkshire picks up $5 billion TSMC stake

For investors looking for a dip-buying opportunity in the global chip industry, Berkshire Hathaway Inc. may have a recommendation: Taiwan Semiconductor Manufacturing Co.

Warren Buffett’s conglomerate picked up a $5 billion stake in the firm in the recent quarter amid a rout that wiped out over $250 billion from the stock. It hasn’t commented publicly on the deal but market watchers attribute the purchase to TSMC’s cheap valuations, technology leadership and solid fundamentals.