Taiwan Semiconductor Manufacturing Company (TSM)
Needham & Company raised its 12 month price target on Taiwan Semiconductor Manufacturing to $410 from $360 while maintaining a Buy rating, reflecting increasing confidence in the company’s long-term growth outlook after the company report a 35% increase in profit. The higher target is driven by expectations for sustained demand for advanced semiconductor nodes, particularly as AI, high-performance computing, and data center investment continue to accelerate.
The valuation update highlights TSMC’s unmatched manufacturing scale, technology leadership, and deep customer relationships with leading chip designers, which support strong pricing power and capacity utilization over time. Needham also points to improving visibility into capital expenditure efficiency and margin stability as advanced-node volumes ramp. Overall, the raised target underscores a bullish view on TSMC as a foundational beneficiary of global AI and semiconductor investment cycles, despite ongoing geopolitical and cyclical industry risks.
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