VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

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Thursday, January 8, 2026

Stock Comparison

Taiwan Semiconductor Manufacturing Company Limited vs Cochlear Limited

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)$44.2T
Gross margin (TTM)59%
Operating margin (TTM)49.5%
Net margin (TTM)43.7%
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

Cochlear Limited

COH · ASX

Market cap (USD)$17B
Gross margin (TTM)74.5%
Operating margin (TTM)22.7%
Net margin (TTM)16.2%
SectorHealthcare
IndustryMedical - Devices
CountryAU
Data as of2026-01-04
Moat score
81/ 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 Cochlear Limited's moat claims, evidence, and risks.

View COH analysis

Comparison highlights

  • Moat score gap: Taiwan Semiconductor Manufacturing Company Limited leads (92 / 100 vs 81 / 100 for Cochlear Limited).
  • Segment focus: Taiwan Semiconductor Manufacturing Company Limited has 3 segments (74% in Leading-edge Foundry (7nm and below)); Cochlear Limited has 3 segments (62.4% in Cochlear Implants).
  • Primary market structure: Quasi-Monopoly vs Oligopoly. Pricing power: Strong vs Moderate.
  • Moat breadth: Taiwan Semiconductor Manufacturing Company Limited has 7 moat types across 4 domains; Cochlear Limited has 8 across 3.

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%

Cochlear Limited

Cochlear Implants

Market

Cochlear implant systems (internal implant + external sound processors) for severe-to-profound hearing loss

Geography

Global

Customer

Hospitals/ENT clinics and audiology programs (providers) serving implant candidates/recipients; reimbursed by public/private payers

Role

Medical device OEM / platform owner (implant + processor + fitting software + clinical support)

Revenue share

62.4%

Side-by-side metrics

Taiwan Semiconductor Manufacturing Company Limited
Cochlear Limited
Ticker / Exchange
2330 - Taiwan Stock Exchange
COH - ASX
Market cap (USD)
$44.2T
$17B
Gross margin (TTM)
59%
74.5%
Operating margin (TTM)
49.5%
22.7%
Net margin (TTM)
43.7%
16.2%
Sector
Technology
Healthcare
Industry
Semiconductors
Medical - Devices
HQ country
TW
AU
Primary segment
Leading-edge Foundry (7nm and below)
Cochlear Implants
Market structure
Quasi-Monopoly
Oligopoly
Market share
70%-72% (reported)
60%-65% (reported)
HHI estimate
5,165
n/a
Pricing power
Strong
Moderate
Moat score
92 / 100
81 / 100
Moat domains
Supply, Network, Demand, Financial
Demand, Legal, Supply
Last update
2025-12-28
2026-01-04

Moat coverage

Shared moat types

Capex Knowhow Scale

Taiwan Semiconductor Manufacturing Company Limited strengths

Ecosystem ComplementsDesign In QualificationBenchmark Pricing PowerScope EconomiesOperational ExcellenceKeystone Component

Cochlear Limited strengths

Brand TrustCompliance AdvantageIP Choke PointService Field NetworkInstalled Base ConsumablesFormat Lock InData Workflow Lockin

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

Cochlear Limited segments

Full profile >

Cochlear Implants

Oligopoly

62.4%

Services

Monopoly

25.9%

Acoustics

Oligopoly

11.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

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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.