Added to YB: 2026-07-21
Pitch date: 2026-07-17
TSM [neutral]
Taiwan Semiconductor Manufacturing Company Limited
+4.15%
current return
Author Info
No bio for this author
Company Info
Taiwan Semiconductor Manufacturing Company Limited, together with its subsidiaries, manufactures, packages, tests, and sells integrated circuits and other semiconductor devices in Taiwan, China, Europe, the Middle East, Africa, Japan, the United States, and internationally.
Market Cap
TWD 59.4T
Pitch Price
TWD 407.70
Price Target
N/A
Dividend
0.96%
EV/EBITDA
17.88
P/E
26.79
EV/Sales
12.81
Sector
Semiconductors and Semiconductor Equipment
Category
growth
TSMC 2Q26: The Cost of Building the AI Age
TSM (earnings): 2Q Q2 rev NT$1.27T (+36% YoY), GM 67.7%, op margin 60.3%. HPC now 66% of rev. FY26 rev guided >40% growth, capex raised to $60-64B. Variant view: partner doctrine (underpricing) IS the moat—keeps customers funding TSMC vs Samsung/Intel. Bull case: mid-60s GM held while rev compounds 20%+. 2028 scenarios: NT$1,950/4,700/7,700 vs NT$2,470 now. Risk: capacity digestion if buildout outpaces deployment.
Read full article (9 min)