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yesterday

TSMC Posts 40% Half-Year Revenue Gain as Q2 Exceeds Targets

Analyst re-ratings underscore confidence in the chipmaker’s advanced node expansion despite currency-driven margin pressure.

The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Photo
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Overview

  • First-half revenue jumped 40% year-on-year to NT$1.77 trillion (US$60.8 billion) on surging AI demand.
  • Second-quarter sales reached NT$933.79 billion, topping the company’s US$28.4–29.2 billion guidance, while June revenue fell 17.7% from May but rose 26.9% from a year earlier.
  • Macquarie raised its TSMC target price to NT$1,282 and kept an “Outperform” rating, citing the critical ramp-up of 2 nm technology.
  • Analysts project over 20% U.S. dollar revenue growth in 2025 based on scaling 2 nm and 3 nm nodes and rising silicon content per package.
  • The company plans a US$100 billion investment in U.S. chip fabs under CHIPS Act incentives to diversify its footprint and hedge against tariffs and currency headwinds.