1017 GMT - Expect a "massive revision" to consensus projections after TSMC provided a 2026 outlook that beat market estimates, says tech analyst Nicolas Baratte, who publishes on Smartkarma. The Taiwanese contract chip maker supplying the likes of Nvidia and Apple guided for annual revenue growth of around 30% and 1Q gross profit margin of 63%-65%. By comparison, consensus was for revenue growth of 21% and gross margin of 59% this year, the analyst says. Given TSMC's higher revenue guidance and capital-expenditure intensity, with spending tipped to rise 27%-37% this year, 2026-2028 capex could reach $200 billion, he says in a brief note after the record 4Q earnings. "The recent Taiwan chatter was estimating $150 billion of capex over 2026-28," he notes. (farah.elias@wsj.com)

(END) Dow Jones Newswires

January 15, 2026 05:17 ET (10:17 GMT)

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