VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Stock Comparison

Taiwan Semiconductor Manufacturing Company Limited vs Baidu, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Taiwan Semiconductor Manufacturing Company Limited

2330 · Taiwan Stock Exchange

Market cap (USD)$49.7T
Gross margin (TTM)59.9%
Operating margin (TTM)50.8%
Net margin (TTM)45.1%
SectorTechnology
IndustrySemiconductors
CountryTW
Data as of2025-12-28
Moat score
92/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Taiwan Semiconductor Manufacturing Company Limited's moat claims, evidence, and risks.

View 2330 analysis

Baidu, Inc.

9888 · The Stock Exchange of Hong Kong Limited

Market cap (USD)$350B
Gross margin (TTM)44.7%
Operating margin (TTM)-2.6%
Net margin (TTM)6.9%
SectorTechnology
IndustryInternet Content & Information
CountryCN
Data as of2025-12-28
Moat score
71/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Baidu, Inc.'s moat claims, evidence, and risks.

View 9888 analysis

Comparison highlights

  • Moat score gap: Taiwan Semiconductor Manufacturing Company Limited leads (92 / 100 vs 71 / 100 for Baidu, Inc.).
  • Segment focus: Taiwan Semiconductor Manufacturing Company Limited has 3 segments (74% in Leading-edge Foundry (7nm and below)); Baidu, Inc. has 4 segments (54.5% in Online Marketing (Search & Feed Ads)).
  • Primary market structure: Quasi-Monopoly vs Quasi-Monopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Taiwan Semiconductor Manufacturing Company Limited has 7 moat types across 4 domains; Baidu, Inc. has 10 across 4.

Primary market context

Taiwan Semiconductor Manufacturing Company Limited

Leading-edge Foundry (7nm and below)

Market

Leading-edge semiconductor foundry services (<=7nm logic process technologies)

Geography

Global

Customer

Fabless semiconductor companies, system companies, and IDMs

Role

Dedicated foundry / contract manufacturer

Revenue share

74%

Baidu, Inc.

Online Marketing (Search & Feed Ads)

Market

Chinese-language search and feed-based online marketing services

Geography

Mainland China

Customer

Advertisers (SMEs and larger enterprises) buying performance-based and feed ads

Role

Search + feed platform operator / ad marketplace

Revenue share

54.5%

Side-by-side metrics

Taiwan Semiconductor Manufacturing Company Limited
Baidu, Inc.
Ticker / Exchange
2330 - Taiwan Stock Exchange
9888 - The Stock Exchange of Hong Kong Limited
Market cap (USD)
$49.7T
$350B
Gross margin (TTM)
59.9%
44.7%
Operating margin (TTM)
50.8%
-2.6%
Net margin (TTM)
45.1%
6.9%
Sector
Technology
Technology
Industry
Semiconductors
Internet Content & Information
HQ country
TW
CN
Primary segment
Leading-edge Foundry (7nm and below)
Online Marketing (Search & Feed Ads)
Market structure
Quasi-Monopoly
Quasi-Monopoly
Market share
70%-72% (reported)
62%-66% (reported)
HHI estimate
5,165
n/a
Pricing power
Strong
Moderate
Moat score
92 / 100
71 / 100
Moat domains
Supply, Network, Demand, Financial
Demand, Network, Supply, Legal
Last update
2025-12-28
2025-12-28

Moat coverage

Shared moat types

Capex Knowhow ScaleEcosystem Complements

Taiwan Semiconductor Manufacturing Company Limited strengths

Design In QualificationBenchmark Pricing PowerScope EconomiesOperational ExcellenceKeystone Component

Baidu, Inc. strengths

Habit DefaultBrand TrustData Workflow LockinLearning Curve YieldRegulated Standards PipeContent Rights CurrencyScale Economies Unit CostData Network Effects

Segment mix

Taiwan Semiconductor Manufacturing Company Limited segments

Full profile >

Leading-edge Foundry (7nm and below)

Quasi-Monopoly

74%

Mature & Specialty Foundry (16nm and above + specialty processes)

Oligopoly

26%

Advanced Packaging & 3DFabric (CoWoS, InFO, SoIC)

Oligopoly

n/a

Baidu, Inc. segments

Full profile >

Online Marketing (Search & Feed Ads)

Quasi-Monopoly

54.5%

AI Cloud (IaaS/PaaS/SaaS + GenAI APIs)

Oligopoly

16.3%

Intelligent Driving & Other Growth Initiatives

Oligopoly

7.4%

iQIYI (Online Entertainment)

Oligopoly

21.8%

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.