Amazon (AMZN 1.52%) is a well-known tech behemoth. Plenty of people use its commerce platform, and its name has become synonmous wth online shopping. Amazon is also competing in the artificial intelligence (AI) space, with its Amazon Web Services (AWS) cloud computing division. Despite operating in those lucrative areas, Amazon's growth rate has slowed a bit, and its stock price is underperforming. This opens it up to be passed by others who are operating at a high level.
Two stocks that are crushing it now and could easily be worth more than Amazon in three years are Taiwan Semiconductor Manufacturing (TSM 4.96%) and Broadcom (AVGO 1.63%). Each of these companies is highly exposed to the AI build-out, which is likely to be years-long, so there is plenty of time for these two stocks to surpass Amazon in market cap.
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TSMC is close to passing Amazon now
Currently, Amazon has a $2.13 trillion market cap. TSMC and Broadcom aren't all that far behind at $1.57 trillion and $1.54 trillion, respectively. Both TSMC and Broadcom expect huge growth over the next few years, primarily fueled by the massive AI spending going on.
NYSE: TSM
Key Data Points
For TSMC, the average Wall Street analyst expects $14.31 in earnings per share (EPS) during 2026, with that figure rising to $18 by 2027. For reference, TSMC delivered $10.65 in EPS during 2025. Broadcom's growth follows a similar pattern. In 2026, analysts expect $10.27 in EPS, up from $6.82 last year. For 2027, that number increases to $14.42. Clearly, there is a bullish outlook for both Broadcom and TSMC, but how does Amazon stack up?
Last year, Amazon delivered EPS of $7.78. This year? Analysts expect $7.74, and next year that number rises to $9.41. The slight drop over the next year is related to all the expenses associated with Amazon building out its AI-related AWS operations. Amazon expects to spend $200 billion in capital expenditures (capex) this year, which is a huge acceleration from last year. While capex doesn't affect EPS directly, it can have other effects that appear later down the road.
NASDAQ: AMZN
Key Data Points
Some of that spending by Amazon will be fueling the monster growth that Broadcom and TSMC are expecting over the next year as Amazon and multiple other companies purchase their AI-related products and services. This will easily allow both companies to grow past Amazon over the next few years.
This makes them no-brainer stocks to buy now. These two will continue to climb up the valuation leaderboard over the next few years and could even challenge other companies currently more valuable than Amazon.
