Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semico...
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semiconductor Manufacturing Company Limited (TSM) Widens Its Lead as AI Fuels Margin Expansion Morgan Stanley stated that its decision was driven by upside to gross margins and stronger earnings visibility. In other words, the analysts see continued profitability improvements and clearer future earnings prospects compared with previous expectations. TSMC released its Q4 2025 earnings on January 15, where it posted a quarterly gross margin of 62.3%, significantly above both the company’s guidance and general market expectations. And for Q1 2026, the company guided gross margins of 63-65%. In light of this, Morgan Stanley noted that TSMC’s current margins already run well above the prior 53% level. And as such, the company’s guidance suggests structural improvements in profitability supported by pricing actions, productivity gains, and a higher share of AI-related revenue. Meanwhile, Bernstein SocGen Group reiterated its Outperform rating on TSMC on January 16. The lead analyst Mark Li, also kept the price target at $330. Li cited TSMC’s Q4 2025 results, which he described as a strong beat against already high market hopes. And key to his optimism about TSMC is the company’s updated growth forecasts. Specifically, TSMC lifted its AI revenue CAGR to mid-to-high 50% for the 2024-2029 period. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest semiconductor foundry. It manufactures integrated circuits for global chip designers, producing advanced nodes used in applications such as artificial intelligence, cloud computing, mobile devices, and automotive...
Broadcom Inc. (NASDAQ:AVGO) is among Goldman Sachs’ top semiconductor stock picks. On January 26, JPMorgan’s analysts released their monthly list of top technology stock picks, highlighting opportunities across growth, income, and value strategies, with semiconductors and infrastructure software among the focus areas. Broadcom Inc. (NASDAQ:AVGO) was featured for its diverse portfolio spanning wire...
Broadcom Inc. (NASDAQ:AVGO) is among Goldman Sachs’ top semiconductor stock picks. On January 26, JPMorgan’s analysts released their monthly list of top technology stock picks, highlighting opportunities across growth, income, and value strategies, with semiconductors and infrastructure software among the focus areas. Broadcom Inc. (NASDAQ:AVGO) was featured for its diverse portfolio spanning wireless, broadband, networking, and storage, while Wells Fargo upgraded the stock to Overweight and the company issued $4.5 billion in senior notes. Broadcom (AVGO) Strengthens Position in AI Compute and Infrastructure Ecosystem On January 20, Goldman Sachs reiterated its preference for Broadcom Inc. (NASDAQ:AVGO) as one of the leading companies in the compute ecosystem alongside Nvidia. The bank said this decision is based on the view that Broadcom is positioned to benefit from ongoing capital spending tied to artificial intelligence infrastructure and from networking technology trends valued in AI compute. In its research, Goldman constructed an inference cost curve to compare AI compute solutions from various chipmakers and how their relative costs evolve. The bank said it created the curve to help address investor questions about competition between traditional GPU-based solutions and custom ASIC designs. And its analysis found that Google and Broadcom’s tensor processing unit (TPU) implementations are narrowing the cost gap with Nvidia’s GPU solutions when judged by compute cost efficiency. The bank also noted that the latest TPU version, TPU v7, reduced inference cost per token by about 70% compared with the prior TPU v6. And this change placed TPU v7 on par or slightly better than Nvidia’s GB200 NVL72 in absolute cost terms. Goldman’s report also compared Broadcom/Google TPU performance with other competitors. The results were that Amazon’s Trainium and AMD’s accelerators showed only around 30% cost reductions. As such, the bank concluded that these alternatives are fur...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (NVDA) Invests $2B in CoreWeave, Expands AI Data Center Partnership As part of this expanded collaboration, NVIDIA invested $2 billion in CoreWeave Class A common stock at $87.20 per share. And, the companies said they will deepen their alignment across infrastructure, software, and platform development to support large-scale AI deployments and enterprise needs. On its part, CoreWeave will build and operate AI factories using NVIDIA’s accelerated computing platform technology to meet customer demand for AI compute and data center capacity. This move comes only weeks after NVIDIA unveiled a new generation of AI chips on January 5. The Wall Street Journal and other major publications noted that this release was earlier than the company’s typical release cadence. As such, they see this as NVIDIA accelerating its product roadmap in response to surging demand for computing power used in AI workloads. Specifically, NVIDIA CEO Jensen Huang announced the Rubin platform at the Consumer Electronics Show in Las Vegas. The platform is named after astronomer Vera Rubin, and the company is positioning it as the successor to the Blackwell architecture. Huang said that this new platform is designed for large-scale AI training and inference in data centers. It features six new chips aimed at advancing AI capabilities. NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It designs and manufactures graphics processing units and accelerated computing platforms used in gaming, data centers, automotive, and professional visualization. The company’s primary offerings include its GeForce G...
Bristol-Myers Squibb Company (NYSE:BMY) is one of the best inexpensive stocks to buy now. On January 20, Bristol Myers Squibb announced a partnership with Microsoft (NASDAQ:MSFT) to enhance the early detection of lung cancer. The collaboration centers on integrating Bristol Myers’ oncology expertise with Microsoft’s advanced AI-enabled radiology platform. By using these digital tools, the companie...
Bristol-Myers Squibb Company (NYSE:BMY) is one of the best inexpensive stocks to buy now. On January 20, Bristol Myers Squibb announced a partnership with Microsoft (NASDAQ:MSFT) to enhance the early detection of lung cancer. The collaboration centers on integrating Bristol Myers’ oncology expertise with Microsoft’s advanced AI-enabled radiology platform. By using these digital tools, the companies aim to streamline the identification of non-small cell lung cancer, ensuring patients are guided toward optimal care pathways and precision therapies more efficiently. The initiative will deploy FDA-cleared radiology AI algorithms through the Microsoft Precision Imaging Network. This network is currently used by hospitals across the US to analyze X-ray and CT images. These specific algorithms are designed to assist clinicians in spotting hard-to-detect lung nodules, which is critical for identifying the disease at its earliest, most treatable stages. Bristol Myers Squibb (BMY), Microsoft (MSFT) Partner to Enhance Early Lung Cancer Detection Through AI A primary objective of this partnership is to bridge the gap in healthcare equity by expanding access to early detection in medically underserved communities. The rollout will specifically target rural hospitals and community clinics across the US, where advanced diagnostic resources may be limited. This unique AI-enabled workflow combines scalable tech with drug delivery expertise to improve patient outcomes. Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. While we acknowledge the potential of BMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks...
Bristol-Myers Squibb Company (NYSE:BMY) is one of the best inexpensive stocks to buy now. On January 20, Bristol Myers Squibb announced a partnership with Microsoft (NASDAQ:MSFT) to enhance the early detection of lung cancer. The collaboration centers on integrating Bristol Myers’ oncology expertise with Microsoft’s advanced AI-enabled radiology platform. By using these digital tools, the companie...
Bristol-Myers Squibb Company (NYSE:BMY) is one of the best inexpensive stocks to buy now. On January 20, Bristol Myers Squibb announced a partnership with Microsoft (NASDAQ:MSFT) to enhance the early detection of lung cancer. The collaboration centers on integrating Bristol Myers’ oncology expertise with Microsoft’s advanced AI-enabled radiology platform. By using these digital tools, the companies aim to streamline the identification of non-small cell lung cancer, ensuring patients are guided toward optimal care pathways and precision therapies more efficiently. The initiative will deploy FDA-cleared radiology AI algorithms through the Microsoft Precision Imaging Network. This network is currently used by hospitals across the US to analyze X-ray and CT images. These specific algorithms are designed to assist clinicians in spotting hard-to-detect lung nodules, which is critical for identifying the disease at its earliest, most treatable stages. Bristol Myers Squibb (BMY), Microsoft (MSFT) Partner to Enhance Early Lung Cancer Detection Through AI A primary objective of this partnership is to bridge the gap in healthcare equity by expanding access to early detection in medically underserved communities. The rollout will specifically target rural hospitals and community clinics across the US, where advanced diagnostic resources may be limited. This unique AI-enabled workflow combines scalable tech with drug delivery expertise to improve patient outcomes. Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. While we acknowledge the potential of BMY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (NVDA) Invests $2B in CoreWeave, Expands AI Data Center Partnership As part of this expanded collaboration, NVIDIA invested $2 billion in CoreWeave Class A common stock at $87.20 per share. And, the companies said they will deepen their alignment across infrastructure, software, and platform development to support large-scale AI deployments and enterprise needs. On its part, CoreWeave will build and operate AI factories using NVIDIA’s accelerated computing platform technology to meet customer demand for AI compute and data center capacity. This move comes only weeks after NVIDIA unveiled a new generation of AI chips on January 5. The Wall Street Journal and other major publications noted that this release was earlier than the company’s typical release cadence. As such, they see this as NVIDIA accelerating its product roadmap in response to surging demand for computing power used in AI workloads. Specifically, NVIDIA CEO Jensen Huang announced the Rubin platform at the Consumer Electronics Show in Las Vegas. The platform is named after astronomer Vera Rubin, and the company is positioning it as the successor to the Blackwell architecture. Huang said that this new platform is designed for large-scale AI training and inference in data centers. It features six new chips aimed at advancing AI capabilities. NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It designs and manufactures graphics processing units and accelerated computing platforms used in gaming, data centers, automotive, and professional visualization. The company’s primary offerings include its GeForce G...
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semico...
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semiconductor Manufacturing Company Limited (TSM) Widens Its Lead as AI Fuels Margin Expansion Morgan Stanley stated that its decision was driven by upside to gross margins and stronger earnings visibility. In other words, the analysts see continued profitability improvements and clearer future earnings prospects compared with previous expectations. TSMC released its Q4 2025 earnings on January 15, where it posted a quarterly gross margin of 62.3%, significantly above both the company’s guidance and general market expectations. And for Q1 2026, the company guided gross margins of 63-65%. In light of this, Morgan Stanley noted that TSMC’s current margins already run well above the prior 53% level. And as such, the company’s guidance suggests structural improvements in profitability supported by pricing actions, productivity gains, and a higher share of AI-related revenue. Meanwhile, Bernstein SocGen Group reiterated its Outperform rating on TSMC on January 16. The lead analyst Mark Li, also kept the price target at $330. Li cited TSMC’s Q4 2025 results, which he described as a strong beat against already high market hopes. And key to his optimism about TSMC is the company’s updated growth forecasts. Specifically, TSMC lifted its AI revenue CAGR to mid-to-high 50% for the 2024-2029 period. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest semiconductor foundry. It manufactures integrated circuits for global chip designers, producing advanced nodes used in applications such as artificial intelligence, cloud computing, mobile devices, and automotive...
Broadcom Inc. (NASDAQ:AVGO) is among Goldman Sachs’ top semiconductor stock picks. On January 26, JPMorgan’s analysts released their monthly list of top technology stock picks, highlighting opportunities across growth, income, and value strategies, with semiconductors and infrastructure software among the focus areas. Broadcom Inc. (NASDAQ:AVGO) was featured for its diverse portfolio spanning wire...
Broadcom Inc. (NASDAQ:AVGO) is among Goldman Sachs’ top semiconductor stock picks. On January 26, JPMorgan’s analysts released their monthly list of top technology stock picks, highlighting opportunities across growth, income, and value strategies, with semiconductors and infrastructure software among the focus areas. Broadcom Inc. (NASDAQ:AVGO) was featured for its diverse portfolio spanning wireless, broadband, networking, and storage, while Wells Fargo upgraded the stock to Overweight and the company issued $4.5 billion in senior notes. Broadcom (AVGO) Strengthens Position in AI Compute and Infrastructure Ecosystem On January 20, Goldman Sachs reiterated its preference for Broadcom Inc. (NASDAQ:AVGO) as one of the leading companies in the compute ecosystem alongside Nvidia. The bank said this decision is based on the view that Broadcom is positioned to benefit from ongoing capital spending tied to artificial intelligence infrastructure and from networking technology trends valued in AI compute. In its research, Goldman constructed an inference cost curve to compare AI compute solutions from various chipmakers and how their relative costs evolve. The bank said it created the curve to help address investor questions about competition between traditional GPU-based solutions and custom ASIC designs. And its analysis found that Google and Broadcom’s tensor processing unit (TPU) implementations are narrowing the cost gap with Nvidia’s GPU solutions when judged by compute cost efficiency. The bank also noted that the latest TPU version, TPU v7, reduced inference cost per token by about 70% compared with the prior TPU v6. And this change placed TPU v7 on par or slightly better than Nvidia’s GB200 NVL72 in absolute cost terms. Goldman’s report also compared Broadcom/Google TPU performance with other competitors. The results were that Amazon’s Trainium and AMD’s accelerators showed only around 30% cost reductions. As such, the bank concluded that these alternatives are fur...
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semico...
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), or TSMC, is among Goldman Sachs’ top semiconductor stock picks. On January 16, Morgan Stanley lifted its price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to NT$2,088, a 5% increase. The investment bank also reiterated the stock as a top pick after the company reported strong quarterly results. Taiwan Semiconductor Manufacturing Company Limited (TSM) Widens Its Lead as AI Fuels Margin Expansion Morgan Stanley stated that its decision was driven by upside to gross margins and stronger earnings visibility. In other words, the analysts see continued profitability improvements and clearer future earnings prospects compared with previous expectations. TSMC released its Q4 2025 earnings on January 15, where it posted a quarterly gross margin of 62.3%, significantly above both the company’s guidance and general market expectations. And for Q1 2026, the company guided gross margins of 63-65%. In light of this, Morgan Stanley noted that TSMC’s current margins already run well above the prior 53% level. And as such, the company’s guidance suggests structural improvements in profitability supported by pricing actions, productivity gains, and a higher share of AI-related revenue. Meanwhile, Bernstein SocGen Group reiterated its Outperform rating on TSMC on January 16. The lead analyst Mark Li, also kept the price target at $330. Li cited TSMC’s Q4 2025 results, which he described as a strong beat against already high market hopes. And key to his optimism about TSMC is the company’s updated growth forecasts. Specifically, TSMC lifted its AI revenue CAGR to mid-to-high 50% for the 2024-2029 period. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world’s largest semiconductor foundry. It manufactures integrated circuits for global chip designers, producing advanced nodes used in applications such as artificial intelligence, cloud computing, mobile devices, and automotive...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (...
NVIDIA Corporation (NASDAQ:NVDA) is among Goldman Sachs’ top semiconductor stock picks. On January 26, NVIDIA Corporation (NASDAQ:NVDA) and CoreWeave expanded their long-standing collaboration with a new agreement to accelerate the build-out of more than 5 gigawatts of AI data centers, or AI factories, by 2030. This move, NVIDIA said, will support the growing demand for AI infrastructure. NVIDIA (NVDA) Invests $2B in CoreWeave, Expands AI Data Center Partnership As part of this expanded collaboration, NVIDIA invested $2 billion in CoreWeave Class A common stock at $87.20 per share. And, the companies said they will deepen their alignment across infrastructure, software, and platform development to support large-scale AI deployments and enterprise needs. On its part, CoreWeave will build and operate AI factories using NVIDIA’s accelerated computing platform technology to meet customer demand for AI compute and data center capacity. This move comes only weeks after NVIDIA unveiled a new generation of AI chips on January 5. The Wall Street Journal and other major publications noted that this release was earlier than the company’s typical release cadence. As such, they see this as NVIDIA accelerating its product roadmap in response to surging demand for computing power used in AI workloads. Specifically, NVIDIA CEO Jensen Huang announced the Rubin platform at the Consumer Electronics Show in Las Vegas. The platform is named after astronomer Vera Rubin, and the company is positioning it as the successor to the Blackwell architecture. Huang said that this new platform is designed for large-scale AI training and inference in data centers. It features six new chips aimed at advancing AI capabilities. NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It designs and manufactures graphics processing units and accelerated computing platforms used in gaming, data centers, automotive, and professional visualization. The company’s primary offerings include its GeForce G...
welcomia/iStock via Getty Images By Padhraic Garvey, CFA , Regional Head of Research, Americas The US dollar popped weaker on most crosses late Tuesday. This stemmed from off-the-cuff comments from President Trump along the lines that he's okay with some dollar softness, as it means that other currencies are less likely to devalue versus the dollar, in turn preventing their products from becoming ...
welcomia/iStock via Getty Images By Padhraic Garvey, CFA , Regional Head of Research, Americas The US dollar popped weaker on most crosses late Tuesday. This stemmed from off-the-cuff comments from President Trump along the lines that he's okay with some dollar softness, as it means that other currencies are less likely to devalue versus the dollar, in turn preventing their products from becoming more competitively priced in the US. This harps back to the so-called Mar-a-Largo accord that voiced frustration that dollar reserve status, while positive, resulted in a dollar that was too strong, in turn making US manufacturing less competitive. Our views on that are here (Q&A). Remember, it's the US Treasury that has responsibility for the US dollar, not the Federal Reserve. Scott Bessent, on CNBC on Wednesday morning, cited the "strong dollar policy" phrase. So, he has decided not to push in the same direction as President Trump. Indeed, the dollar does not need a push. It's already moving along the path of least resistance - weaker. It's the unwritten preference of the administration, but not too weak too fast, and not getting to uncomfortable levels. Our FX strategists have also maintained a weaker dollar view . So what does all this mean for the rates versus FX arbitrage? In recent weeks, we've opined on this for Japan and South Korea and China . Now we focus on the eurozone, or more specifically, Ester verus SOFR. The FX exposure piece - anticipating a weaker dollar A weakening in the US dollar versus the euro should not be a huge surprise. It's discounted in the FX forward profile, which is a reflection of the rate differentials between higher US rates and lower eurozone rates. If those spreads represent an equilibrium, then the EUR must appreciate versus the USD. That said, forwards are not always realised. A great example of that is the recent weakness of the Japanese yen. There, the forwards have not been realised as the rate spreads have not represented an equ...
Key Points State-based income taxes can be relatively expensive, making the difference between struggling or making forward progress. In some cases, the higher cost of living in an income-tax-free state more than offsets the tax savings benefit. Much of the data needed to help you make such a decision is readily available, even if it doesn't tell you the entire story. The $23,760 Social Security b...
Key Points State-based income taxes can be relatively expensive, making the difference between struggling or making forward progress. In some cases, the higher cost of living in an income-tax-free state more than offsets the tax savings benefit. Much of the data needed to help you make such a decision is readily available, even if it doesn't tell you the entire story. The $23,760 Social Security bonus most retirees completely overlook › The premise seems brilliant enough on the surface -- avoid state taxes to keep more of your hard-earned income. Moving to one of the nine states that don't impose income taxes on any of its residents solves the problem. The actual matter's far from this simple, however. The cost of living is at least a little different (if not a lot different) in each and every state. It's conceivable that you could end up enjoying less disposable income by living in a no-tax state. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Let's put the premise to the test for each end every state in question. No-income-tax states First things first. Which states don't charge any personal income tax (which doesn't impact your federal income taxes, by the way)? There are nine of them: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming These states are able to generate enough revenue through other means, like taxes on business income or sales taxes. Also note that in New Hampshire, Tennessee, and Washington, there may be some taxation of certain investment income, although at relatively modest rates. For what it's worth, there are also four more states that have no income tax on most retirement income. Although this doesn't do anyone in their working years any good, if you're willing and able to move after you retire, these states might make it worth the trouble: Illinois Iowa Mississippi Pennsylvania Just bear in mind that these four states' r...