[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Jukan [@Jukanlosreve](/creator/twitter/Jukanlosreve) on x 22.5K followers Created: 2025-06-26 03:09:18 UTC Report: Goldman Sachs Raises TSMC Target Price to NT$1,210, Recommends as Conviction Buy Taiwan Semiconductor Manufacturing Company (TSMC, 2330) has seen its growth momentum further strengthened. According to the latest report from Goldman Sachs, market concerns over AI order cuts have significantly eased. This, coupled with the rapid expansion of CoWoS advanced packaging technology adoption, has driven an upward revision in overall revenue forecasts. Goldman Sachs has raised its target price from NT$1,145 to NT$1,210, maintained its "Buy" rating, and placed it on its Conviction Buy list. Goldman Sachs has raised its earnings forecasts for TSMC by X% to X% for 2025 to 2027, primarily based on two key factors. First, an upward revision of wafer revenue forecasts for the 3nm and 5nm processes, reflecting a significant easing of market concerns about AI order reductions. Second, as more customers adopt CoWoS technology, there's a comprehensive upward revision in demand for advanced packaging. With the gradual alleviation of supply chain bottlenecks, the risk of large-scale AI order cuts in the short term has significantly decreased. Kelvin Lu, Goldman Sachs' technology industry analyst, commented that TSMC's multiple growth drivers are firing up simultaneously, indicating a continuously optimistic operational outlook. Looking ahead to 2025 and 2026, revenue is expected to increase by XXXX% and XXXX% year-on-year, respectively, higher than the previous estimates of XXXX% and XXXX% (in USD terms). The primary reasons for this growth come from two major catalysts: First, as process nodes continue to advance, the average selling price (ASP) increases concurrently. AI customers are accelerating their upgrades from N4 to N3, while non-AI customers, such as smartphone and PC manufacturers, will gradually adopt the N2 process. Second, advanced processes and CoWoS packaging are expected to undergo a new round of price adjustments, further boosting overall revenue momentum and helping to offset negative factors such as increased costs from US fab construction and rising energy costs in Taiwan. Looking ahead, Goldman Sachs reiterates its "Buy" rating on TSMC (including ADRs) and remains optimistic about its long-term growth potential. As structural demand from 5G, AI, High-Performance Computing (HPC), and Electric Vehicles (EV) continues to expand, TSMC, with its technological leadership and excellent execution, demonstrates a strong competitive advantage in advanced process and packaging fields, possessing superior growth momentum compared to peers. $TSM XXXXX engagements  **Related Topics** [adoption](/topic/adoption) [coins ai](/topic/coins-ai) [momentum](/topic/momentum) [$0981hk](/topic/$0981hk) [$2330tw](/topic/$2330tw) [taiwan](/topic/taiwan) [goldman sachs](/topic/goldman-sachs) [stocks financial services](/topic/stocks-financial-services) [Post Link](https://x.com/Jukanlosreve/status/1938072049198764472)
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Jukan @Jukanlosreve on x 22.5K followers
Created: 2025-06-26 03:09:18 UTC
Report: Goldman Sachs Raises TSMC Target Price to NT$1,210, Recommends as Conviction Buy
Taiwan Semiconductor Manufacturing Company (TSMC, 2330) has seen its growth momentum further strengthened. According to the latest report from Goldman Sachs, market concerns over AI order cuts have significantly eased. This, coupled with the rapid expansion of CoWoS advanced packaging technology adoption, has driven an upward revision in overall revenue forecasts. Goldman Sachs has raised its target price from NT$1,145 to NT$1,210, maintained its "Buy" rating, and placed it on its Conviction Buy list.
Goldman Sachs has raised its earnings forecasts for TSMC by X% to X% for 2025 to 2027, primarily based on two key factors. First, an upward revision of wafer revenue forecasts for the 3nm and 5nm processes, reflecting a significant easing of market concerns about AI order reductions. Second, as more customers adopt CoWoS technology, there's a comprehensive upward revision in demand for advanced packaging. With the gradual alleviation of supply chain bottlenecks, the risk of large-scale AI order cuts in the short term has significantly decreased.
Kelvin Lu, Goldman Sachs' technology industry analyst, commented that TSMC's multiple growth drivers are firing up simultaneously, indicating a continuously optimistic operational outlook. Looking ahead to 2025 and 2026, revenue is expected to increase by XXXX% and XXXX% year-on-year, respectively, higher than the previous estimates of XXXX% and XXXX% (in USD terms).
The primary reasons for this growth come from two major catalysts: First, as process nodes continue to advance, the average selling price (ASP) increases concurrently. AI customers are accelerating their upgrades from N4 to N3, while non-AI customers, such as smartphone and PC manufacturers, will gradually adopt the N2 process. Second, advanced processes and CoWoS packaging are expected to undergo a new round of price adjustments, further boosting overall revenue momentum and helping to offset negative factors such as increased costs from US fab construction and rising energy costs in Taiwan.
Looking ahead, Goldman Sachs reiterates its "Buy" rating on TSMC (including ADRs) and remains optimistic about its long-term growth potential. As structural demand from 5G, AI, High-Performance Computing (HPC), and Electric Vehicles (EV) continues to expand, TSMC, with its technological leadership and excellent execution, demonstrates a strong competitive advantage in advanced process and packaging fields, possessing superior growth momentum compared to peers.
$TSM
XXXXX engagements
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