Added to YB: 2026-07-20
Pitch date: 2026-07-16
TSM [neutral]
Taiwan Semiconductor Manufacturing Company Limited
+5.58%
current return
Author Info
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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 62.8T
Pitch Price
TWD 392.12
Price Target
500.00 (+20%)
Dividend
1.16%
EV/EBITDA
18.99
P/E
28.31
EV/Sales
13.59
Sector
Semiconductors and Semiconductor Equipment
Category
growth
TSMC: Earnings and my fair value
TSM (earnings): Q2 rev $40.2B (+33.7% YoY), EPS $4.31 (+74%), beat by $0.37; stock -5% on AI-jitters sell-the-news. HPC 66% of rev, 2nm debuts at 3%. GM 67.7%, Q3 guide 66% on N2 dilution. FY26 capex raised to $60-64B, rev guide 'slightly above 40%.' $265B US commitment. DCF fair value >$500 at 10% WACC. Risks: N2/overseas margin dilution, ASML price pressure, AI valuation fears, overcapacity.
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