tsmc surges: analysts predict further 10% upside

2025-09-15 tsmc

Taipei, Monday, 15 September 2025.
tsmc’s stock is making headlines. It hit a new high of NT$1260. Foreign investors are optimistic. They foresee gains pushing the stock to NT$1400. This suggests a potential 10% rise. This confidence stems from tsmc’s leadership in semiconductors. The company’s year-to-date performance is up by 38%. Investors are closely watching these developments, anticipating further target price revisions. The projected growth reflects strong faith in tsmc’s future.

analyst outlook and target prices

Foreign brokerage firms estimate TSMC’s stock has approximately 10% upside potential from its NT$1,260 closing price on September 12, 2025 [3][4]. Their target price range is NT$1,300 to NT$1,400 [3][4]. Citigroup Global Markets has a target price of NT$1,400, Morgan Stanley is at NT$1,388, and Goldman Sachs is at NT$1,370 [3]. These firms project strong demand for advanced semiconductors [2]. Before TSMC’s July investor conference, expectations were between NT$1,200 and NT$1,300 [1][3]. After the conference, they were revised to NT$1,300 to NT$1,400 [1][3].

financial performance and revenue

TSMC’s August consolidated revenue reached NT$335.72 billion [2]. This represents a 3.84% increase from July and a 33.77% increase year-over-year [2]. The accumulated revenue for the first eight months of 2025 reached NT$2.43 trillion, a 37.09% increase year-over-year [2]. TSMC anticipates its third-quarter 2025 consolidated revenue to be between $31.8 billion and $33 billion [2]. This would represent a 10.62%, approximately 7.75%, quarterly increase and a 55.5%, approximately 37.85%, annual increase [2].

manufacturing capacity and expansion

TSMC’s 2-nanometer process is expected to reach a monthly production capacity of 40,000 wafers by the end of 2025 [2][4]. It is projected to reach 100,000 wafers by the end of 2026 [2][4]. This expansion is driven by demand from smart devices and high-performance computing (HPC) customers [2]. TSMC plans to invest an additional $20 billion in its Arizona plant [1]. Chairman Mark Liu stated the company is committed to expanding capacity to meet the growing demand for advanced semiconductors [1].

market dynamics and investor activity

On September 12, 2025, TSMC’s stock experienced a slight dip, closing at $145 per share, a 1.2% decrease [1]. Analysts attribute this fluctuation to broader tech market concerns [1]. Despite this, foreign investors have been net buyers of TSMC for 11 consecutive days since August 29, 2025, accumulating 85,500 shares [3][4]. On September 11, 2025, TSMC’s after-hours block trade volume reached 2,483 lots, with a total value of NT$3.114 billion [1][2].

expert opinions and industry outlook

PGIM Funds’ manager, Bingkun Liao, noted that the strong performance of U.S. tech stocks is driving the Taiwan stock market to new highs [3][4]. He highlighted Oracle’s cloud infrastructure forecast as a positive sign for long-term AI growth [3]. Goldman Sachs held a forum in San Francisco, focusing on increased demand for advanced processes and capacity expansion [3]. They also emphasized maintaining a long-term gross profit margin of over 53% [3]. A financial columnist stated that “only stocks are competitive,” referring to TSMC’s performance [1][2].

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