{
  "disclaimer": "Goldirham Insight: educational research, not financial advice. Scores are editorial opinions, not forecasts. Simulated prices are illustrations, not market data.",
  "rows": [
    {
      "symbol": "TSM",
      "name": "Taiwan Semiconductor",
      "theme": "The factory that manufactures the AI revolution",
      "upside": 7.5,
      "safety": 7.5,
      "ai_exposure": 9.5,
      "review_status": "unreviewed",
      "reviewed_by": null,
      "reviewed_at": null,
      "review_sources": null,
      "thesis": "Every leading-edge AI chip — NVIDIA, AMD, Apple, Broadcom — is built here.",
      "why_it_could_work": "Effective monopoly on leading-edge (3nm/2nm) manufacturing | Manufactures for NVIDIA, AMD, Apple, Broadcom — the whole field | Advanced packaging (CoWoS) is a second, scarce bottleneck | Decades of process leadership and yield expertise",
      "key_risks": "Taiwan geopolitical risk is the dominant overhang | Cyclical demand swings in the broader chip market | Enormous capex intensity to stay ahead",
      "cycle_stage": "Indispensable — a toll on the entire semiconductor industry."
    }
  ]
}