Overview
- TSMC bought an additional 900 acres in Arizona, moved its second plant target to the second half of 2027, sped construction of a third facility, and began permitting for a fourth, with the Wall Street Journal reporting plans for a larger gigafab cluster that could reach roughly a dozen sites.
- Fiscal Q4 2025 topped forecasts with NT$1,046.09 billion in revenue, NT$505.74 billion in net income, and NT$19.50 EPS, supported by strong demand for leading‑edge process technologies.
- Management guided to roughly 30% revenue growth in 2026 and $52–$56 billion in capital spending, with Q1 revenue outlook at $34.6–$35.8 billion and continued strength from AI and HPC customers.
- Analysts boosted targets after the report (BofA to $470; TD Cowen to $370; Morgan Stanley to NT$2,088), and ARK Invest purchased 5,542 shares worth about $1.89 million on January 16.
- Media reports say a new U.S.–Taiwan trade agreement reduces tariffs and outlines large Taiwanese investment in the U.S., providing a policy tailwind to TSMC’s expansion alongside an already pledged $165 billion for U.S. fabs and advanced packaging.