The Coca-Cola Company (KO) vs Taiwan Semiconductor Manufacturing Company Limited (TSM)

Founded in 1886 and headquartered in Atlanta, The Coca-Cola Company is the world’s largest nonalcoholic beverage company, with a broad portfolio of 200 brands spanning major categories such as carbonated soft drinks, water, sports drinks, energy drinks, juice, and coffee. Through its bottling operations and distribution partners, Coca-Cola markets finished beverage products under its own and licensed brands via retailers and food-service outlets in more than 200 countries and regions worldwide. Approximately 60% of the company’s total revenue comes from international markets, with significant contributions from emerging economies in Latin America and the Asia-Pacific region.

Taiwan Semiconductor Manufacturing Co. (TSMC) is the world’s largest pure-play semiconductor foundry, holding roughly 70% market share in 2025. Founded in 1987 as a joint venture between Philips, the Taiwan government, and private investors, the company listed in Taiwan in 1994 and later launched its US ADR in 1997. TSMC’s vast scale and advanced manufacturing capabilities support strong operating margins, even within the highly competitive foundry industry. The ongoing shift toward the fabless semiconductor model has also provided meaningful growth tailwinds. Its distinguished customer base includes Apple, AMD, and Nvidia, which rely on TSMC’s leading-edge process technologies for their chip designs. The company employs more than 83,000 people.