Foreign Brokerages Raise TSMC Targets to 3,800 TWD Ahead of Thursday Earnings Call

Foreign brokerages have raised their price targets on Taiwan Semiconductor Manufacturing Company (TSMC, 2330-TW, TSM-US) ahead of its earnings call scheduled for Thursday (July 16), with the highest target reaching 3,800 Taiwan dollars. The consensus expects TSMC's earnings per share to exceed 100 Taiwan dollars for the first time, a new industry record.

Brokerages anticipate TSMC may upgrade its full-year revenue guidance from the prior forecast of over 30% USD growth to challenge 40% growth, driven by strong AI chip demand and new iPhone models. On profitability, analysts expect gross margins of 68% in Q2 and approximately 67% for the full year, with earnings per share targeting the century mark.