TSMC stands out
Taiwan Semiconductor (TSMC) is bucking the tech correction with a 7.8% gain in 2026 after reporting 25.6% revenue growth in Q4 — analysts see roughly 30% upside to current targets. Semiconductor divergence like this is creating pockets of strength inside an otherwise weak tech tape. (coincentral.com)
TSMC’s official earnings release shows fourth-quarter consolidated revenue of NT$1,046.09 billion (US$33.7 billion) and a 20.5% year‑over‑year increase for the quarter ended Dec. 31, 2025. (pr.tsmc.com) Management gave sequential guidance for 1Q26 revenue between US$32.2 billion and US$33.4 billion and signalled full‑year 2026 revenue growth in the high‑20s to ~30% range, reinforcing the company’s demand outlook for AI and HPC chips. (investor.tsmc.com) The board has approved multi‑billion dollar factory and equipment investments and TSMC is budgeting roughly US$52–56 billion in capex for 2026, with roughly 70–80% earmarked for advanced nodes and packaging. (pr.tsmc.com) Goldman Sachs led the analyst re‑rating round by raising its Taipei target to NT$2,330 and keeping a Conviction Buy stance, a move that helped spark early‑January gains in the shares. (bloomberg.com) Street targets have climbed alongside those forecasts: the recent analyst average for the U.S. ADR sits near US$423.50, implying roughly 25–30% upside from mid‑March levels according to aggregator tallies. (tipranks.com) Corporate mix is shifting toward AI customers—public comments and filings indicate Nvidia became TSMC’s largest customer in 2025, representing about 19% of revenue versus Apple’s roughly 17%, which explains much of the revenue and margin momentum analysts are modelling. (cnbc.com)
