Added to YB: 2026-04-20
Pitch date: 2026-04-16
TSM [neutral]
Taiwan Semiconductor Manufacturing Company Limited
-1.22%
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 52.6T
Pitch Price
TWD 2.1K
Price Target
500.00 (-76%)
Dividend
1.08%
EV/EBITDA
17.55
P/E
27.58
EV/Sales
12.26
Sector
Semiconductors and Semiconductor Equipment
Category
growth
TSMC 1Q26: The Bottleneck Travels
TSM (update): Q1 beat w/ 66.2% gross margin vs 64.5% est, raised FY26 rev guide to >30%. Strategic shift: breaking historical rule by adding N3 capacity (not just N2) across Taiwan/AZ/Japan thru 2028, signaling unusually strong demand visibility. Capex rising to $150B+ over 2026-28. BUT partner pricing doctrine + utility-grade capital allocation (no buybacks, <1% yield) cap shareholder returns vs NVDA/AVGO. Right comp is ASML at 28x, not NVDA at 30x. Hold $380, add at $340.
Read full article (8 min)