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Investing.com - Bernstein SocGen Group raised its price target on Taiwan Semiconductor Manufacturing Company (NYSE:TSM) to $290 from $249 while maintaining an Outperform rating. The semiconductor giant, currently trading at $231.50 and commanding a market cap of $980 billion, is trading near its Fair Value according to InvestingPro analysis.
The firm cited a better artificial intelligence outlook as a key driver for the increased target, noting that strong AI demand combined with improving non-AI segments will drive 33% revenue growth in US dollars this year. TSM’s robust financial health is reflected in its impressive 35% return on equity and strong revenue growth of 39.5% over the last twelve months.
Export data confirms a rapid ramp-up in the near term, while signals from cloud service providers indicate robust AI demand growth extending into 2026, according to Bernstein’s analysis.
The firm observed that non-AI demand has shown early signs of mild recovery, with additional support coming from demand pulled forward to avoid potential tariffs.
Bernstein projects Taiwan Semi’s full-year 2025 US dollar revenue to rise by 33%, exceeding the company’s guidance of 30%, and bases its new price target on a 23% earnings CAGR while maintaining a 19x target forward P/E.
In other recent news, Taiwan Semiconductor Manufacturing Co. (TSMC) reported impressive financial results for the second quarter of 2025. The company’s earnings per share (EPS) surged by 60.7% compared to the same period last year, reaching NT$15.36. Revenue also saw a notable increase of 11.3% sequentially, amounting to NT$30.1 billion. This growth was primarily fueled by strong demand in the high-performance computing and smartphone markets. Although TSMC experienced a slight decline in gross margin, its operating margin improved, and it maintained a solid return on equity. These developments underscore TSMC’s robust performance in the semiconductor industry.
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