I expect TSMC to deliver another strong quarter, with results underscoring its dominance in the AI semiconductor supply chain. The company’s near-full utilisation of 3-nanometre capacity and fully booked CoWoS packaging lines suggest robust demand from major customers such as Nvidia, Apple, and AMD. Even with currency headwinds,5 TSMC’s gross margin is likely to stay comfortably above 55%, reflecting its strong pricing power and advanced technology moat.
Tariff exposure and how new U.S.–China measures could affect export flows.
Arizona fab ramp-up — any acceleration would strengthen investor confidence in TSMC’s global diversification.
2025 guidance updates, especially if management raises its AI-related revenue forecast again.
Unless there is a major surprise on tariffs or FX impact, I expect the stock to rally post-earnings.
My prediction: bullish bias, with a potential close around US$326.80 on 16 October as optimism on AI demand outweighs macro concerns.
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