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TSMC Earnings Surge: Analyst Sees Strong Support at NT$2,230 as Index Eyes 50,000
Electronic Technology · Semiconductors · economic_daily · 2026-10-24
Financial expert Hsieh Chin-ho notes that TSMC's Q3 revenue beat guidance, with full-year net profit projected to hit NT$3 trillion, providing a solid floor for the stock.
What Happened
TSMC Revenue Outperformance: TSMC's third-quarter revenue reached NT$1.49 trillion, significantly exceeding the upper bound of its previous guidance. With profit margins expanding, the company is on track to potentially surpass NT$3 trillion in annual net profit, underscoring its robust operational momentum.
Valuation and Support Levels: Analysts estimate TSMC's full-year EPS could reach NT$115.9, suggesting that at a 20x P/E ratio, the stock price finds a formidable support level around NT$2,230. Major foreign investment banks have consistently raised their price targets, with most now projecting values well above NT$3,000.
Global Market Standing: With annual net profits approaching US$100 billion, TSMC ranks among the world's most profitable corporations, comparable to tech giants like Nvidia, Microsoft, and Apple. This fundamental strength serves as the primary engine driving the broader Taiwan Stock Exchange toward new milestones.
Broader Market Outlook: Beyond TSMC, companies like MediaTek are benefiting from strategic partnerships, such as the recent convertible bond deal with Nvidia. While these firms face pressure to deliver higher earnings growth, the overall market remains in a consolidation phase, building a solid base for future growth.