TSMC Should Maintain Long-Term Structural Growth -- Market Talk

Dow Jones

2025/07/18

0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to "sell its value," the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

July 17, 2025 21:45 ET (01:45 GMT)

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TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 17, 2025 21:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TSMC Should Maintain Long-Term Structural Growth -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTSMC Should Maintain Long-Term Structural Growth -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-07-18 09:45</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 17, 2025 21:45 ET (01:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2054465674.USD","symbol_name":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2552308453","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2552308453","pubTimestamp":1752803100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0145 GMT - TSMC should be able to maintain long-term structural growth thanks to its leading chips and advanced packaging technology, Citi analysts say in a research note. TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. 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TSMC's 2-nanometer chips, which are scheduled for mass production in 2H, would require substantial manufacturing complexity and highly refined 3D process control, the analysts say. TSMC's long-standing expertise in process control, which is one of its core competitive advantages, should support it to \"sell its value,\" the analysts say. Given the technology migration and TSMC's leading position, Citi expects TSMC's average selling prices to trend up with revenue growing at 15% and 24% in 2026 and 2027, respectively. Citi maintains a buy call on TSMC and raises its target price to NT$1,400.00 from NT$1,280.00. Shares are last at NT$1,155.00.(sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 17, 2025 21:45 ET (01:45 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}