Overview
- Fourth‑quarter revenue reached NT$1.046 trillion (≈$33.1 billion), up 20.45% year over year, topping the LSEG SmartEstimate and landing within prior guidance.
- Full‑year 2025 revenue hit a record NT$3.81 trillion, a 31.6% increase, as high‑performance computing and AI demand offset softer consumer electronics.
- Goldman Sachs lifted its price target to NT$2,330 and raised 2026–2027 earnings estimates, while JPMorgan moved to NT$2,100 and Mizuho reiterated NT$2,000.
- Analysts cite tight 3nm/5nm capacity through 2027, gross margins potentially above 60% from 2026–2028, and forecast more than $150 billion in capex over 2026–2028.
- The U.S. Commerce Department granted TSMC Nanjing an annual export license, easing equipment supply for the China fab without individual vendor approvals.