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TSMC Shares Waver Despite Strong Outlook; CEO Wei Jokes About Market Reaction
Electronic Technology · Semiconductors · economic_daily · 2026-10-16
2330
TSMC reported record Q3 earnings and raised its full-year revenue forecast, yet shares remain volatile as analysts maintain bullish long-term ratings.
What Happened
Earnings Performance: TSMC delivered a record-breaking third quarter with earnings per share of NT$29.43. The company also upgraded its full-year revenue growth forecast to approximately 44%, underscoring robust operational momentum.
AI Demand Outlook: CEO C.C. Wei confirmed that AI demand remains insatiable, with growth in both AI accelerators and high-efficiency CPUs. The company plans to significantly increase capital expenditure between 2026 and 2028 to keep pace with the surging demand.
Analyst Sentiment: BNP Paribas raised its price target for TSMC to NT$3,090, citing improved profit forecasts for the 2026-2028 period. Other major firms, including Goldman Sachs and Morgan Stanley, maintained their existing bullish stances following the earnings call.
Market Volatility: Despite strong fundamentals, TSMC shares faced pressure due to a decline in its ADR and broader foreign selling. The impressive financial guidance has yet to trigger an immediate rally, as the stock continues to navigate short-term market headwinds.
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