Overview
- TSMC shares jumped as much as 6.9% to a record in Taipei, helping propel Taiwan’s Taiex index past 30,000 for the first time.
- Goldman Sachs raised its Taiwan-listed price target 35% to NT$2,330, calling AI a multi-year growth engine and projecting roughly US$150 billion of capex from 2026 to 2028.
- The bank expects tight supply at TSMC’s advanced 3nm and 5nm nodes through 2027 and forecasts gross margins holding above 60% despite heavy investment.
- The U.S. Commerce Department granted a one-year export license for TSMC’s Nanjing fab, allowing U.S.-controlled tools to ship without case-by-case approvals.
- Analysts highlight continued bottlenecks in advanced packaging such as CoWoS and urge selectivity on valuation risks even as AI-driven demand accelerates.