"TSMC delivered EPS of $3.49 against a $3.362 estimate, revenue of $35.9 billion growing 35.1% year over year, and gross margin of 66.2%, well above the guided 63% to 65% band. April monthly revenue ran NT$410.73 billion, up 17.5% year over year, with cumulative January through April revenue up 29.9%."
"C.C. Wei told investors that "AI-related demand continues to be extremely robust" and that the shift from generative to agentic AI is driving another step-up in token consumption. Management raised full-year 2026 revenue guidance to above 30% growth in U.S. dollar terms and now expects 2026 capex toward the high end of the $52 billion to $56 billion range."
"N2 entered high-volume manufacturing in Q4 2025 with good yields, and AI accelerator revenue is tracking a mid- to high-50s CAGR through 2029. Our bull case price is $552.11, a 36.48% total return. Eighteen of nineteen covering analysts rate TSMC Buy or Strong Buy with zero sell ratings."
"HPC concentration is a real exposure. The segment is now 61% of total revenue, meaning any AI capex pause hits TSMC squarely. FX losses on expired forward contracts reached NT$5.9 billion year to date, and outstanding U.S. subsidiary guarantees to"
TSMC trades at $404.54 and has a 12-month price target of $473.33, implying 17% upside and a buy recommendation with high confidence. Shares have risen sharply, including 33.49% year to date and 131.93% over the past year, while remaining about 10% below the 52-week high. Q1 2026 results showed EPS of $3.49, revenue of $35.9 billion up 35.1% year over year, and gross margin of 66.2% above guidance. Management cited robust AI-related demand and raised 2026 revenue growth guidance above 30% in U.S. dollar terms, with 2026 capex expected toward the high end of $52 billion to $56 billion. Risks include HPC revenue concentration and foreign exchange losses on forward contracts.
Read at 24/7 Wall St.
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